Depends, fiat on ramps can be a good or bad thing. good means that it might moon the coin, bad means more regulation so harder to moon. And i dont think that the australian government is too keen to let a random cryptocurrency to get fiat-on-ramps
Nauticus is registered with AUSTRAC so that isn't an issue
and also I get it bleeds BTC's market cap but theres better things than BTC in some sense and BTC is becoming a store of value