It's important to recognise that med is quite competitive in the sense that most people under/postgrad are applying broadly (i.e. applying to literally every uni in the country that they meet the entry criteria for), so at your stage, there aren't really that many differences in the quality of universities that would justify not applying for one.
That being said, there are a few things you should be aware of: All med schools are accredited by the Australian Medical Council, which is a fairly high standard of training (they send out people every so often to sit in on classes etc) that "subpar" universities don't really exist in med. The way it's taught is also fairly standardised (for example a mix of lectures, tutorials and problem based learning in the first 2-2.5 years, then hospital placements for the last 2-4 years).
In Victoria, hospitals can and do preference certain universities, but this is largely only true for internship (the first year out of graduation) and will not affect your specialty training pathway, and the difference is overwhelmingly outweighed by other factors such as grades and other factors you don't have control over, such as where you're placed. (note other states have a lottery based system, so the uni you go to has zero influence on your job offer).
In the fortunate event that you receive multiple med offers - apart from the standard things (proximity to your home/in the state that you want to practice in, full fee vs CSP, duration), there's not a whole lot that separates the different med schools.