I know this is a joke, but its quite simple why Australia lost. This side (and for that matter batsmen the world over) have struggled against swing bowling, particularly bowled at a rapid rate (i.e Shane Bond). The Aussies came up against a pace attack that all could swing the ball, and conditions (ball and enviornment) that assisted their cause. The Aussie batsmen were beaten by the English bowlers, and the Aussie bowlers were not backed up by their fielders.
I think it's one of the better things to happen the Aussie cricket for a while actually. It may see the beginning of a selection policy that favours form over reputation, a dedication to younder talent, and a re-assessment of the coaching ranks. It also should make for greater public interest when England come down under for the next series, crowds in general have been down over the past few years so hopefully the prospect of a hard fought series will bring the people back to the grounds.