Personally, I think that if everyday, boring old acknowledgements are less emphatic, then it magnifies the emphasis when genuine praise is given. For example, I can't stand this trend of describing everything as 'awesome', because it has deflated the meaning of the word to the point where it is bland and everyday. But if you usually only say 'thanks' or 'cheers', when somebody makes the effort to say a proper 'thank you' you know they mean it.
As to why Australians are prone to rationing out the praise, I really couldn't say. I have found, though, that us Australians naturally tend to be modest and reserved amongst ourselves, we don't go in for flowery ceremonies and carefully-observed rituals anywhere near as much as, for example, Arabic culture. If it works fine as-is, we reason, why go and put frills all over it? We also tend to be quite cynical; flowery, exaggerated praise almost always reads as insincerity or even sarcasm. Culturally, we resent and dislike 'fancyness', and crass displays of wealth. Perhaps flowery manners smack of 'upper-class': if there is one thing Australians hate, it is the idea of genuflection toward a 'higher class'.
As to why Australians are prone to rationing out the praise, I really couldn't say. I have found, though, that us Australians naturally tend to be modest and reserved amongst ourselves, we don't go in for flowery ceremonies and carefully-observed rituals anywhere near as much as, for example, Arabic culture. If it works fine as-is, we reason, why go and put frills all over it? We also tend to be quite cynical; flowery, exaggerated praise almost always reads as insincerity or even sarcasm. Culturally, we resent and dislike 'fancyness', and crass displays of wealth. Perhaps flowery manners smack of 'upper-class': if there is one thing Australians hate, it is the idea of genuflection toward a 'higher class'.