tres equis' writeup is fortunately not an accurate description of the contemporary Australian music scene.

In addition to the many long-standing and long-gone bands of antipodean origin, the current roll call is possibly the healthiest it's been in years.

The old guard:

The Triffids
The Church
Go Betweens
Nick Cave & The Bad Seeds, The Birthday Party, Boys Next Door, These Immortal Souls, Rowland S. Howard
Midnight Oil
The Angels
You Am I

and the (relatively) young bucks:

Custard
Powderfinger
Killing Heidi
Art Of Fighting
The Living End
The Whitlams
Alex Lloyd
Savage Garden
Motor Ace
Area 7
Something For Kate
Screamfeeder
Minimum Chips
Hydroplane

and the hundreds upon hundreds of others who i've left out because there's so many. I shall add to this list (and sort it a little better) upon suggestion or as I get the inspiration.