I'm an Australian; born, raised and educated in Australia.
I have attended state schools, catholic schools, anglican schools and weekend ethnic language schools. Lived in cities, in the bush, in the suburbs and in small towns. My mother is Australian, my father an immigrant from a poor country.
My friends cover the full spectrum of aboriginal australians and islanders; children of Vietnamese, iranian, italian, slav, indian and the 'aussie-aussies'.
I lived in the Uk for a number of years and now live in The Netherlands with a dutch husband.
Australia is racist (like all other countries in the world, it's human nature to discriminate), but not in the way you all seem to judge it. Australians are verbally openly racist, often they don't see that they are doing anything other than pointing out the visual reality in front of them. It's not always the case, but this discrimination often stops there. Australians are 'generally' indiscriminate when it comes to opportunity. Look at schools, businesses and universities and you will find a full spectrum of nationalities present. At the end of the day, you are accepted as an Australian based on values displayed, not how you look or your background.
In Europe this is different. You are judged on things you can't easily change: your name, background, how you appear ethnically. In the UK i couldnt believe that I had to tick boxes regarding the ethnic background. Are you Asian-British, european-british, other white british... etc. In Aus it doesnt exist except for Islanders and Aboriginals that often have specific heath or educational challenges that can be attended to if authorities are aware of their background.
Regarding education: It's all relative to where you come from but in general the education system in Australia is bad compared to other developed wealthy nations. We are pretty ignorant when it comes to history, philosophy...basically anything considered high-brow. Our maths skills are also appalling.
I agree that Sydney and Melbourne have become incredibly materialistic. It's the American influence coupled with the absence of respect for education that doesn't lead to a high paying job. And don't get me started on Australia's sports celebrities and the pretty little things that hang off them. It's cringeworthy that these people are so celebrated.
Drugs, violence and alcohol abuse is a concern country-wide.
But the good things:
The food. So fresh, so diverse, so celebrated.
Multiculturalism. It's not a perfect system but I've struggled to see such a successfully integrated multicultural system anywhere else. Cultural diversity is not just a slogan. We aren't very PC and people in general don't take offence because no one cultural group is singled out. Everyone is laughed at equally. Just because people dare to say what others only think doesn't make the country more racist. Maybe it's just a bit more honest and realistic about the way the world is and the prevailing attitudes out there.
The innovation and drive. Australian's have great ideas and their enthusiasm is infectious. For anyone who has the drive to leave Aus's shores, they do amazingly well overseas because of the great base have from growing up in Australia. This feeling that anything is possible backed up with with a heavy dose of practicality, and self-sufficiency. Problem is in Australia you miss that next level of emotional intelligence to know how to deal with the potential.
The environment, safety, freedom to live how you want...
I won't be back, my values fit much better in Europe than in Australia. But for my siblings with a very different skill set and values, there is no better place in the world.