Yes!
I could easily see it working. And going for a lot more than 4 seasons. And yes, it could even work if it starts out as an Australian show ABC and gets picked up by BBC A number of Aussie shows have made it big in the UK. Any Aussies want to work it out that way who might be cast as whom?
And OZ has some very interesting "alien" locations that would be good for filming that nobody from any place else would have ever seen. Everything from the Blue Mountains to Wollemi Pine country to wilderness coasts to grasslands and that's just around Sydney.
And yes, you could get a very interesting bunch of kangaroo-like aliens. The only movie I ever heard about that being tried was on "Tank Girl". And some of the quirkiest plots on TV. Aussies are known for that.
it's Possibly, because Gene Roddenberry was in WW2 as B-17 Pilot in Espiritu Santo, New Hebrides.
that island group near Australia, he could after the War go to Australia to work as Pilot.