I mean, Australia only has 11 more medals than East Germany. A country that hasn't existed for 34 years. And which had only two thirds of the population of Australia. That's punching about your weight class. And all it takes is systemic abuse of athletes.
Is there a correlation between a country's Navy and Gold medals? I think the USN fleet is larger than like the next 12 largest navies, and that's not counting the USCG.
I think the 2nd and 3rd largest are the RFN and HMNS, just like this list of #2 USSR, #3 UK.