I know it's silly to respond to one of the all time best trolls on LU but our talent IS being spread around alreadyIt ain't rocket science. And you don't need a national comp. It could work just like it does now. Teams do their best to scout young talent and they could have a drafting strategy for how they evaluate who is best when their pick comes up.
As for clubs investing in youth, the answer is in the AFL draft system: teams like the Swans get draft concessions for NSW players they have developed in their academy. The Lions in Queensland etc. Teams can move up in the draft if necessary to get one of their "juniors.'
So adapting it to the NRL, a club like Penrith could still get the best junior in their system, they just wouldn't be able to horde a whole generation of players