The argument the players will make is Quality vs Quantity.
The players won't seriously come with that argument. In having a shorter season still has teams coming first to last,so you will still see poor quality games depending on certain match-ups. It's unavoidable.
For example,in an NFL season,they play 16 games and one bye. During the season,they have their games were you'd think they were the Superbowl. And on the other side of the coin,you have games were you contact the NFL demading you get a refund on the 3 hours you'll never get back.
My point is no matter the kind of pro sport you follow,you simply can't change it's defining issues,whether good or bad no matter how many games are played.
Do the players take a pay cut?...no.
Do the clubs lose money in have two less home games?...yes.
Will Foxtel reduce their sports subscription from $25 per month?...highly unlikely.(which would lead to a large customer backlash and therefore unsubscribe)
Will the NRL value in contract negotations drop?...of course.