The only way I could see a new competition entering the fray is if it was funded by one of the new streaming service providers and competed directly with the NRL. It would need to alter the playing rules to differentiate it from the NRL, as it's not going to have the big name players to use as draw cards, so it'll have to rely on the product being more entertaining. Something like this would be great for STAN Sport, Amazon Prime Video or Paramount+.
If they were to spend $60m a year to fund an eight team competition then they could have an annual grant of $7.5m per club, which would be more than enough to raid Super Rugby and poach the best junior talent from Australia, Cook Islands, England, Fiji, New Zealand, PNG, Samoa and Tonga.
Imagine if these teams were to enter the league!
Adelaide Rams
Brisbane Tigers
Cairns Cyclones
Central Queensland Capras
Ipswich Jets
North Sydney Bears
Sunshine Coast Falcons
West Coast Pirates