There is a simple reason why Australia has the most number of trophies in any of the ICC competitions. The players are selfless and the team bonding is extremely strong. On the other hand, look at the Indian team. There is one gang led by Rohit and Kohli, and another led by Dhoni loyalists such as Jadeja. Then there are several smaller gangs, such as the ones by Sanju Samson and Shreyas Iyer. The team selection is made on the basis of achieving the equilibrium between different gangs, rather than going for the best player.
Even though India is seen as a force in the cricket world, they are far behind in terms of ICC trophies. Australia is the most successful team in ICC tournaments. Because in the Australian team you will not see any group. They are a group of a team. But in the Indian team you will always see a captain's group. They do not lack talent, but in big tournaments the players selected by their captain are given more importance. If you see, the players who were in the team during MS Dhoni's time are not in the team now. Bhuvneshwar Kumar, Kuldeep Yadav and Yuzvendra Chahal you cannot say that they were bad performers. Their form and performance are still exemplary for international cricket.
I see only India team which despite having more performers than other teams, they announce controversial squads in big tournaments and perform badly in big matches. If you look at big teams like Australia, England and New Zealand, you will see that they start arranging the squad before any tournament. But India is a bit different, instead of building a squad, they are busy scouting young players and giving more opportunities to youngsters than experienced players in tournaments. Other countries give more priority to experienced players in team building, but India gives more importance to talent.