I think Aussies are going thru the patch of building a team with most of the guys new. You need experianced guys to beat India in India and the present team lacks that(exculde clark). But taking their systems and process, they can bounce back really fast. Beware!!
Indian cricket was also pronounced dead after last Australia tour. We are back on our way to the top. At this time only South Africa can give us any competition when we visit them. On India's holy soil, we will trounce them. Australia will be back too. They have a young inexperienced team totally unfit to play in Indian condition.
Started dying after Sydney Olympics when best of their sport persons started choosing short duration sport (and Globally popular) like Football, Aquatics, Field Hockey, Track and field. Australia still won 2003 and 2007 WC because of the momentum and legacy of great players. The current Australian team is just a B-Grade cricket team losing consecutive series like Ashes and against SA at home.
Australian cricket team has joined West Indies where cricket died after 1984 LA Olympics when their best sport persons chose track and field, Basketball, baseball and Ice hockey to spin money in US.
Cricket is a dead sport in NZ and even in England as well. So, effectively cricket will remain popular in 4 troubled economies - India, Pak, Bangladesh and SL.
