Noble..but hardly viable in the commercial world we now live in. Kids don't give a shite about the integrity or lack thereof of an SBW, a Folau, etc. No one's buying a Robson jersey or getting fired up about buying a season membership based on John Morris' career highlights.
Incidentally, Folau/Hunt haven't backfired on the AFL because they're no longer in the code. The AFL aren't stupid - in fact they're a much smarter, slicker-run competition than the NRL. They knew Folau wouldn't last. They figured cutie wouldn't either, even with past experience in the code. Their pay might as well have been filed under marketing expenses, not player salaries.
Folau/Hunt bought them relevancy and exposure in the early days for two sides in geographical areas that required it.