Not at all. Over the past 20 years the RAAF has seen a steady decline in applicants. The reduced numbers in through the door of recruiting would imply that there is just a smaller pool for the RAAF to choose from. A larger pool means more chance of higher quality applicants.
Given the very low numbers that actually pass every year and the disproportionate number of applicants compared to the pass rate, is there ever really going to be an issue for the RAAF? One thing they could change would be the failure rate. In reality if you get through the RAAF selection you should have close to 95% pass rate once on course.
But the RAAF have attempted to address this by changing the requirements for entry. This allows more applicants to progress to the selection process but whether this will translate to a greater graduation number of high quality candidates remains to be seen.
It could also be just a way of dealing with some heat they have copped over recent years about their lack of "diversity" in pilot ranks.