If things got so bad it ended the league, the debris would be vastly insufficient to resurrect a national comp. Best you could hope for would be state leagues, and probably semi pro at that, and the years where a sport could prosper at that level only are decades past. If conditions are good enough that you could form a pro national league under different administration, then the AFL will not die anyway.A new administration for the sport and a new national league would be formed. Hopefully in that circumstance the two bodies would be separate.
The AFL running the sport has proven hopelessly myopic when it comes to every other level of the game.
If the AFL dies, the much repeated boast from Soccer fans that they will take over will finally have a chance to come true. Soccer will be hurt by this, but most of the A league was done, they will be in a position to recover faster, and fans will have foreign leagues to follow and national teams to support.
Footy will have state league teams teams that are a shadow of their former selves.
That situation would be terminal imop.
As a side note, changing the administration would be like a struggling club with the best coach they could get, sacking him and hiring someone else, and thinking this will make things better. It sill not. Gil has done a decent job imop, and AFL still remains the best run sport in Australia, that being the case, wholesale changes to admin are more likely to make it worse than better.