Zonal systems basically failed last time because some teams got naturally stronger/better zones.Returning to a zone system makes a lot of sense to me.
Players naturally seek to move back home or to play with mates they grew up playing with. And it's happening more and more.
A zone system would incentive AFL clubs to invest back into the grassroots footy of their own region.
And if the AFL wanted to really support expansion sides in Qld and NSW, they would likewise do so through supporting the grassroots in those states not through making special rules and concessions.
I see one of Geelong's main advantages as it's strong connection with the Falcons and to it's local footy leagues. That and simply being a well-run and successful club that make us an attractive destination even for players not from the region.
Maybe a "first dibs on any one player from your zone" might work? Still gives clubs rewards for working their zone well, but not a massive long-term advantage.....