Runvs, I usually agree with your points, but I gotta point out ten years ago North had a larger membership than Richmond.
It doesn't follow that they've engaged the supporter base cause they've been around longer.
I personally think they should have dropped a team into an area with another academy that already had the community support, but I get it about the tv deals.
The difference is that in the mid 90's North Melbourne were a powerhouse in the sense that they won premierships and they had arguably one of the best players in the 90's in their team and considering just how bad Richmond were 10 years ago, and how long they had been bad, it is not surprising the supporter base had sort of had enough.
The problem with North though is even when they are really good on the field their fan base is still not big.
As for GWS, I don't think it is just TV deals. It is also the AFL looking at an untapped market since 2.1 million people is not a small number, and if the AFL can turn even 5% of them into GWS fans that is a big number.