Oceania tends to refer to the region, including both Australia, New Zealand, Melanesia, Micronesia, and the many small island nations.
Sometimes, we are “collectivly” treated as a continent, despite being almost all island nations with no land boarders.
I think the actual take is probably closer to “I wish we went back to a time when record companies would take a bet on anyone, regardless of the overall package, looks etc”
Which tbh, is probably more of a fairy tale view of years olden days than anything else.