Just more SPIN
Like this one will happen NOT
At the time that SPIN was being promoted as SPIN East, there was also SPIN West (a complementary line of fibre), plus another couple of offerings.
The french really want this but they just keep shooting themselves in the foot every time they try to get it.
The primary motivation should be for the Australian East coast to not be so utterly dependent on Sydney. Run some major backhaul from Cairns to PNG (replacing the hopelessly inadequate PoC that's there now) and also on to Guam and then from PNG go West to East as far as possible through all of the Islands before tracking straight for somewhere in the Americas (forget Hawaii). Main problem, lots of earthquake fault lines. Main advantage, nice big pipe going in a different path from all the others, with a nice bonus of getting a large number of the small island states (10 million people roughly) off Satellite.