Clubs have gone into administration almost every year since the SC was introduced. The SC has not had any effect on whether clubs stay financially viable or not, that was its original purpose and it has failed.
It has also been claimed that it has levelled down the competition to make a competitive league and in that it has also failed. The standard has levelled down but we've not had a competitive league. We've had the same two clubs finish top and second and the same clubs compete in the Grand Final for the past three seasons.
The Australians make their SC work as the supply of players exceeds demand. Here the supply falls massively short of the demand and the end result is we have far too many overseas players making up that shortfall. If we'd not had the SC here as well as all the other restrictions on player development then supply and demand may well have met each other.
I've always been against the SC and always will be. The last Intl series once again showed that we are short of quality players in numbers. If we want quality players in the numbers needed then we have to pay them. The SC is there to prevent clubs paying large numbers of quality players quality salaries.
IMO the SC has been a thoroughly bad thing.