How thoroughly depressing, and entirely inevitable.
A World Cup in Australia would have been brilliant as well, but it never would have been allowed to happen, obviously.
Just out of curiosity (and ignorance): what do the European and South American nations, for instance, gain from being part of FIFA? As far as I can tell FIFA's only real job is to organise the World Cup and the Club World Cup (or whatever that's called these days). The commercial value of both would be massively reduced if UEFA and Conmebol were to pull out. Given FIFA's well-documented history of corruption and inflated self-importance, what would happen if a breakaway organising body were formed?