Australia Zoo certainly does not have any intensive breeding programs like Jersey does. Their breeding efforts for critically endangered species are all aspirational at this stage, and also completely ridiculous. The zoo has listings for Sumatran rhinoceros and Northern hairy-nosed wombats for example. None of the latter exist in captivity and I'm sure you're familiar with the disastrous history of captive programs for Sumatrans. In this respect, Australia Zoo frankly talks big, but doesn't deliver.
Their conservation efforts revolve around three (real) branches. One is public advocacy. I think this is sincere but muddle-headed, and based on sentiment rather than science. For instance, they rail against culling kangaroos and farming crocodiles for meat and leather. The fact is, neither practice is even vaguely damaging to those species, and consumption of low-emissions meat such as kangaroo should be encouraged, compared to the environmental impact of beef.
The second branch is their wildlife hospital. I believe this is set up as a charitable operation, as you can 'donate' to the hospital. They certainly do provide rehab services for injured local wildlife, though I suspect the hospital also provides vet care for the zoo collection at a partly tax-deductible cost. I could be wrong about that and have no first-hand knowledge that it is the case. Whatever, the hospital provides a feel-good service but probably a marginal contribution to conservation at best.
The third branch is the one that is probably substantial. The Irwins own large tracts of land in Australia that is either prime wildlife habitat, or is being rehabilitated. I don't know the extent of that, but it's certainly the biggest tangible contribution Irwin Inc makes.
I have tried to be completely even-handed here but if you get the impression that I think the Zoo makes a lot of noise for not much action, you would be correct.