AU and USA share in a foundation belief that they are “classless societies.” I think this is probably true of many ex-British colonies since class is such a dominant and suffocating aspect of British culture.
Australia, like the USA has severe inequality, and the rich there like to flaunt their wealth. A disproportionate number of the crypto grifters ended up being Aussie. And while Australia does have a better social welfare state than the US it is both 1) under attack and 2) was put together almost entirely by one socialist prime minister in 1975 who was taken out after only a few months by a coup.