Frankly, I preferred the talent on that show to most I've seen in my 5 years of watching AI. They got to arrange all their own songs. Had to write new songs. Played instruments and were challenged by the band (example: Marty Casey, an angry alt.rock singer was given a Britney Spears song to do and he completely rearranged it and did a tremendous version). 99% of AI is simply redoing the original with slight vocal changes. The Rockstar INXS contestants were challenged far more than AI contestants are.
As for Chris, I think he would have fit right in on that show and they would've loved it (Dave Navarro of RHCP especially). If AI doesn't work out, Chris should try out for the new Rockstar Supernova.
Perhaps, but absolutely nothing Chris has shown me throughout this AI season leads me to believe he could credibly do all of the things you described the INXS contestants being challenged to do. Perhaps you know more about Chris from before he got on AI, but since I don't, all I can go by is what he does from week to week on AI.