i'm trying to think outside the square on this and i know i may get trashed, i am not a fan of these TLD's but i don't see this as a commercial venture more of just ownership.
they don't need SEO rankings as they will just promote the brand. if they go down the .edu.au and .edu path they keep paying renewals and we don't know what their plans are.
with .monash they can push out heaps of domains they would not normally be able to have eg: sydney.monash , so by making this move they are in control.
accountancy.monash , engineering.monash etcccccc
the value of the investment would be the ongoing costs being worth it?
tim