The All Ords (ASX 500) is not an accumulation index, it is a price index (it ignores dividends).
Fitted line doubles every 12.4 years.

The S&P 500 is not an accumulation index, it is a price index (it ignores dividends).
Fitted line doubles every 10.4 years.

Both indices occasionally halve in value, or worse.

Every 30 years or so, the US market reaches a peak, then takes over a decade to push beyond that peak. The last one was in 2000. The Australian market shows a similar, but less extreme pattern.