IMHO I believe this is excellent news, not just because she is a woman.
I also believe that Australia should become a republic, the days of a Monarchy are an anachronism carried out in today's modern society.
I also believe that the Australian people who voted for or against adoption of a Republican system got it correct in 1999 (they voted against Republicanism) but I also believe that the President of any country should be voted into office by the voting electorate and most certainly not by those who are elected Parliamentarians.
Elective Presidents by Parliament is a lousy idea as this gives whichever party has the majority in Parliament the automatic means to elect a President.
Link
BBC NEWS | Asia-Pacific | New governor general in Australia
It is bad enough that under the Parliamentary system as practised in, say the UK, the Prime Minister is always the leader of the Party which gains the most seats and thus forms the Government.
This is quite plainly not as democratic as ALL the electorate voting for a Prime Minister.