Not true. Crowds are the highest and second highest in their respective markets. And FTA ratings become less and less relevant as each year passes - the eyeballs and dollars come from pay TV.
Their crowds, membership and sponsorship revenue is higher than every NRL club besides Broncos.
If you don’t think that the Swans and Lions have done well and add significant value to their code, then there is no point in having NRL teams in Melbourne or Perth, whose clubs would dream of being as big as the Swans or Lions. If not for the success of those clubs, we would not have NRL clubs in Melbourne or Perth.
AFL is obviously never going to dominate Sydney or Queensland, but surely nobody could argue that those clubs have not done well. Storm is on the same trajectory, but a decade or two behind. Perth will probably catch up more quickly as the market is less crowded there.