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From an ICC viewpoint, the penalty is in line with other instances of ball tampering

1994 - Atherton was fined $3700
2000 - Younis was suspended for 1 match
2004 - Dravid was fined 50% of his match fee
2010 - Afridi was suspended for 2 T20 matches
2013 - du Plessis was fined 50% of his match fee
2016 - du Plessis was fined 100% of his match fee.

Smith and Co's real penalty will come at the hands of Cricket Australia and Australian cricket fans who are far less forgiving.

Nice detailed post but my question is one match ban enough

According to the ICC match referee it is, and the historical evidence outlined above supports that. Whether or not the Australian Cricket public are forgiving enough to want these guys to represent their country again is another question entirely.

Personally, I don't. I believe they have tarnished the legacy of the Baggy Green and no longer deserve to wear it.