While 'Australia' does lean heavily into themes of racial reconciliation and identity politics, especially through its focus on the Stolen Generations, the main narrative remains largely intact as a sweeping adventure romance. Some elements feel a bit shoehorned to align with modern sensibilities, but character arcs and classic storytelling are prioritized enough to avoid complete derailment.

The film reinterprets Australian history, placing significant emphasis on colonial guilt and the victimization of Indigenous people, with frequent criticism of traditional institutions. Masculinity and colonial figures are often painted in a negative light, while newer, more modern values are subtly elevated, though not so aggressively as in more recent films.

Though 'Australia' does introduce critical perspectives on colonialism and tradition, it occasionally gives room for complexity among its characters, without universally demonizing dissenting viewpoints. However, alternative or traditional values rarely escape negative framing, leading to a somewhat mono-ideological flavor overall.