At school, sports is the top. If you're smart but not sporty you'll have a tough time as academia is not valued at many places. It's not cool to be smart in a lot of schools (not all) unlike here
I taught for the last 16 years, my DD educated here and I know many teachers and parents outside my school.
Aussie education is not bad at all, ceratinly no worse than the UK, and their studying of English to 18, and the lack of GCSE equivalent makes for a better system over all.
Sports is not top. Stupidly overvalued, especially AFL and in the press, but schools not so much. I never saw "academia" (sic) disparaged, indeed I saw already, day to day appreciate of others' talents openly expressed in a way I never saw in 25+ years in the UK.
There's a lot of "China is evil" in the press. Ask Chinese Australians if it's a racist place. The casual racism is pervasive in society and something we really notice when back
If you mean the views of certain politicians, then yes, though not expressed in spares as coarsely as you suggest. I found no racism at all expressed by people I taught with, though don't doubt it exists and have found it expressed by well-educated people who ought to know better.
It was very like the UK, once outside the bubble of London I lived and worked there for 25+ years) racist and sexist attitudes were far more openly expressed.