Well, that's pretty much the same as the Australian mech battalions will have AFTER they finish receiving the upgraded M113s - they are only proof up to .50 cal ball. And they don't even have a 25mm Bushmaster OR thermal imager - just a .50 cal MG. And they don't even have the upgrades yet!As for the NZLAV... In the grand scheme of things, it's not really all that great a vehicle. It doesn't have the armour to function as an IFV, and it is questionable if it could really be used as an APC. Keep in mind the vehicle is vulnerable to everything from 0.50 cal. AP rounds and up.
Considering that they also have Javelin, I'd rate the NZ infantry battalion (I think it's 1st battalion that has the LAVs?) as more capable in terms of equipment than any of the Australian infantry battalions. Certainly handy to have around in a fight and capable of mixing in with an armoured coalition force. Of course it's not a Warrior or even a Bradley battalion but the NZ battalion is not something I'd like to be up against unless I was well dug in with the world's supply of ATGMs.