A note on the Queen

It seems that I have the same sentimental inclination as my dear Mum. I have kept a copy of The Sydney Morning Herald from March 14, Zoe's birthday, and have stored all the lovely 'new baby' cards that we have been sent. The Herald's front page features a large photo of the Queen, surrounded by supporters waving Australian flags, and an article on two failed $20,000 sports bets. What does this say about Australia in 2006?