Just ran the increase through BARD -
"The 411% fee increase was announced in ASIC's 2022-23 budget submission. ASIC said that the increase was necessary to cover the costs of its growing workload, which includes the need to investigate more complex financial products and services."
So there you have it, the increase is to investigate more complex financial products. They're the ones that should be paying the levy, not us plain vanilla advisers.