I disagree
the Aussies use bloody all the time to great effect, usually followed by "idiot" or "gallah"

They even say it on the news sometimes!
( h3donist tryin' to play me out as if my name is Sega.., Mon 26 Feb 2007, 16:45, archived)

Overuse does not make a good expletive.
Far from it, in fact.
( sleepybinky, Mon 26 Feb 2007, 16:48, archived)

no but they get the context just right
for maximum effect

I spat my pint out when I heard the aussie newswoman describe a group of Sydney boyracers as "bloody idiots!"
( h3donist tryin' to play me out as if my name is Sega.., Mon 26 Feb 2007, 16:54, archived)