Yep the RPPL served a good purpose. It allowed pilots to build their experience and rebuild their bank balance before undertaking Nav training for their Unrestricted PPL.
Why did it die? Apparently the CAA had been embarrassed by a few Aussies gaining full foreign licences on the basis of their Oz ICAO RPPL. The Alphabets, who were offered the options of the GFPT or a full PPL, opted for the GFPT under duress. Surprisingly the GFPT accident record appears to have been satisfactory.
Never fear, hope is at hand if you live long enough, as the proposed CASR part 61 has a whole new national (non ICAO) recreational licence to replace the GFPT while having grreater feeedoms than the RPPL. For those interested view this Part 61 Consultation Draft on the CASA website:
http://www.casa.gov.au/scripts/nc.dll?WCMS:PWA:
c=PARTS061