Comments on individual crop selections and how they are suite to Australia doesn't follow facts, the concept that cotton (or any other crop) should be legislated out of production is a road to regional devastation. Picking winners - which is exactly what you are proposing- has never worked and resulted in some of the most distorted and financially crippling periods in Agricultural history
Dairy, Nuts, Lucerne and many others use similar water and some even more. Most use water highly efficiently contrary to whats sold in the media.
There is no other annual crop that returns the same to the producers and is highly exported generating jobs and income to operate the rest of their farms and communities
As far as pesticide use goes Id have thought they now would be lower per ha than many food crops found in your basket
Lots of uninformed opinions without much backing.
Also contrary to many thoughts and current drought, Australia has plenty of fresh water .society has chosen to send it down and out the end of a major river into the ocean, largely benefiting one state.
Models and mindsets fixed on maintaining fresh lakes and constantly flowing rivers in seawater areas is costing dearly, mostly only seen when the country doesn't have the water to spare -like now
Re pumped hydro, few admit or understand that every time you convert energy from one state to another, around 20% is lost. Round trip efficiencies of pumped hydro are pretty awful, ie you get back bit over half the power you put in let alone very expensive maintenance costs. That makes the energy conserved more than double the price of the method used to generate it in the first place.
Also power must be generated close to where its used, transmission losses also take a big chunk of capital and energy.