I think buses (in re to SYD T1/T2&T3) does make sense, not everyone will want to get to the city.
Some might live in East Gardens or Burwood, which would still be faster with the wind(e)y and hilly bus services, can be a bit headachy too using the bus/es.
Granted that there are ways of getting to a change point, to get from T1/T2/T3 at SYD to Burwood, bypassing Central, but not everyone lives on a rail line or close to a stop.
Of course, what ever the new name of Airportlink is, or if they keep the name, or change is, will still make money, as overseas travellers will gravitate to the train, no matter what.
Think that PER got it right tho, right from the start, it was decided, no gate fee.
6 more years, but I would say that behind the scene, the NSW govt would be close to making a decision.
Which is more beneficial to the NSW govt, the cross subsidy from Mascot and Green Square, or the nearly $20 odd gate fee, I would say the gate fee wins, seeing the number of pax that go down the escalators to the train station, min of people gravitate to the 350/420 bus stop at T1.