Summary of STR law in NSW and VIC strata
The tldr version: Rules set down by tribunals in NSW and VIC that stop a strata from blocking short-term rentals in its buildings probably can be successfully challenged in court, due to recent court decisions in WA and the UK Privy Council.
So it’s still vague, for better or worse.
Of course, in both states legislation is impending that could change this, so I can’t see anyone paying to challenge it right now. But once the law comes down there may be gaps that allow stratas to control their own buildings, as they should.