The only thing in that article that has any ring of truth to it is the risk of union losing national sport status in Australia.
I find it hard to believe that one club cheating on the salary cap will "sever the ties between clubs and fans" - not least because very few fans follow club rugby closely enough to understand what's going on, but also because it's a financial irregularity that has little to do with the game. Did Rangers' bankruptcy sever the ties between Scottish soccer fans and the game?
In fact, I would hope that a league club employing a known homophobe would have a bigger impact on the fans than a man with a lot of money splashing the cash in ways he shouldn't have splashed it.
The most ludicrous assertion is the final sentiment: if club rugby fails, where the heck does he think international rugby will get its players from?