An ecosystem needs to maintain bio diversity to stay healthy. The dingo is part of the Australian ecosystem.

In areas of the mainland (Australia) where the dingo has been eradicated due to rural baiting practices the ecosystem has started to collapse, and many more animals are faced with immanent extinction.

“Reintroducing more dingoes to Australia would help control the population of the nuisance pests and restore some of the country's dwindling native species populations.  In places where dingoes are rare or absent... 50 per cent or more of ground living mammals have vanished."
Professor Chris Johnson from the school of Marine & Tropical Biology at James Cook University.

Like their mainland siblings the Fraser Island dingoes too are part of an ecological balance. If the population is let (or forced) to dwindle further, the consequences could very well be catastrophic for many more species on Fraser Island.

The dingo needs to become a protected species, and its 'pest' status revoked.