I dont buy the no players bit. Its a real chicken and egg argument. Reality is without that top grade side and the pathways underneath it in place you wont get a stronger player pool just sitting around hoping one day to get an NRL contract.
We've barely scratched the surface of player development in NZ, PI, UK, France, poaching Union around the world etc etc.
NRL is finally getting itself in a position where it can be the #1 choice financially and profile wise to attract players from Union and overseas to play here. Player talent isnt the problem, investment in pathways and development systems are.
Look at Penrith. The'yve had the biggest jnr participation region since forever but only in last ten years have they actually got serious about investing in pathways and look what it has reaped.