That’s just for entry requirements to the second officer programme. You’d still need all the cpl theory exams to have the CPL and I’m guessing (and it is just a guess) at some point you’d have to pass the remaining exams to get the ATPL If you ever wished to hold a command or be acting pic on a heavy crew. They’ll still be doing theory in Adelaide as well.

its been so long since I did my ATPL’s but I vaguely remember at the time that the difference between ATPL and CPL were negligible enough that if you wanted to eventually progress to holding an ATPL it wasn’t worth not doing them.