A member of the last Wallabies side to make the final of the global showpiece 23 years ago, Waugh admits he feels shades of 2003 after RA this week signed exiled former Parramatta star Zac Lomax on a two-year deal.
Lomax will join the Western Force in the Super Rugby Pacific ranks at a time when his one-time NSW State of Origin teammate Joseph-Aukuso Suaalii is already a fixture in the Wallabies backline after defecting from the NRL in 2024.
Suaalii's former Sydney Roosters and Blues teammate Angus Crichton will also join the NSW Waratahs next year, while yet another Tricolour and former Wallaby Mark Nawaqanitawase will return to rugby in 2027 looking to play at the World Cup, starting in 19 months.
Australia's 2003 World Cup final line-up - which ultimately lost in extra time to England at the Olympic Stadium - featured league converts Lote Tuqiri and Wendell Sailor on the wings and Mat Rogers at fullback.
Suddenly, Joe Schmidt this year and Les Kiss when he takes over in August have an embarrassment of rugby league riches at their disposal, with Suaalii, Lomax, Crichton and Nawaqanitawase jostling for spots alongside the established Wallabies players.
RA's high performance director Peter Horne, who was instrumental in luring Lomax, says the influx of NRL players is a good problem to have.
"We had 15 Tests last year. We used 48 players in the Wallabies and so having strength and depth across our Super franchises is really important," Horne said.
"In a number of chats we've had with Les and with Joe in the last few weeks, giving more opportunity for selection and having that ability as a head coach going into a World Cup is important, and having Zac in the system just gives us more depth."
Waugh is only too happy to go back to the future if bringing in more league talent helps the Wallabies get their hands on the Webb Ellis Cup for the first time since 1999.
"I mean, there are some similarities," he said.
"If you go back to those early 2000s leading into 2003, the intent was to do everything you possibly could to win the World Cup in 2003 and we've got the same intention here.
"The work that Joe's been doing under Pete's leadership with the culture that's been built in that Wallabies environment, the more world-class international athletes that we can put into that system, the more chance we have of going deep into that tournament.
"So we're reasonably optimistic as to how the next 12 to 18 months plays out.
"I've often said we want to get the whole country behind rugby in this country as we go forward to the World Cup and you can follow AFL, NRL, but we want everyone behind the Wallabies as we go through to '27."
While Eels fans may malign Lomax's move, the 26-year-old's teammates certainly don't.
"It's good for him," Mitch Moses said on Tuesday.
"It's obviously been a long process and I probably think it's been handled a bit weird but it is what it is.
"He'll go there, hopefully he pulls on a gold jersey for the Wallabies come next year in the World Cup. I'll be definitely cheering him on. I wish him all the best."
