If you are going to spend that sort of money on a jetski (which personally i despise as 80% of people that i have interacted with on the water with jetski's are complete aqua bogans - just tear up the water and drive dangerously close to other water users), why not get a boat?

We have a solid ski/wakeboarding boat for well under those $$$ - its an older model, but is still 270HP, can fit 7 people and puts up a wake the size of more recent boats that cost $70 000 plus.  Very quiet inside, and the wake flattens out at faster ski speeds for slalom skiiing.

I just think for a family that a boat is a much much better option as everyone can enjoy it.

This is our boat below - we have about another 5 families that regularly join us for days on the river.  Its an american built Ski Nautique and way better quality build than any Aussie boats

We have terrible problems in Vic with jet ski operators.

I agree with you - a family boat which you and the family can all enjoy together without having a huge impact on those around you...