A poodle crossed with a lab is a labradoodle and is probably a great dog. Then you have what are known as "multi-generational" labradoodles which are doodles which have been bred back over several generations. The poodle genes appear to be dominant to the extent that, after a few generations, they are simply poodles without papers. Just like many breeders of purebred dogs, the breeders often breed for traits they consider desirable and ignore traits which go along with them. The Australian Doodles are a multi-generational mix and, as such are primarily a poodle with some lab genes mixed in but greatly diluted. There are things some of the breeders do with which I disagree. Pups may be neutered with a laser at only 8 weeks. Being neutered ar such a young age results in a dog which is, essentially, sexless. What the long term effects of this might be, I can't say but I have trouble warming up to the concept.
Before we got our current pup, an Airdale, I almost got an Airdoodle; a first generation cross but got the airdale just due to geography. In the end a mutt is just fine. Every dog we've ever had has been a friend to us for as long as we've had them. Spaniels, beagle, shepherd, collie poodle, great dane, doberman, weimeraner, and a host of mutts. All were gone too soon. Some, much too soon.
In my opinion, when you buy an Australian Doodle, you are buying a poodle without papers; for a high price. GD