At the end of the day, it depends whether you think that harmonisation with the USAF, and providing the US and coalition with additional platforms and units is more important than securing autonomous national capabilities.
Most people I've spoken to who know this world believe that the loss of Nimrod R and EWAD represents a massive loss of national capability.
And a specific reduction in Elint capability, too.
(And R5 promised to be very good indeed, and rather more supportable, sustainable and autonomous than Rivet Joint).