It's still regarded as one of the best universities in the country so I wouldn't worry about anything too much!
I'm from Sydney, but recieved an offer to study there. Its definitely better then Macquarie and UTS and UWS.
If you're from Sydney maybe instead of looking at rankings consider if its really worth the move/expenses to study in Melbourne and if what you're going to gain over Macquarie/UTS is worth all the trouble. However if you're happy to move and think that there is a lot to be gained then go for. At the end of the day rankings are only rankings and I'm sure if you look on a different site you'll find different numbers so I wouldn't make that the primary focus of your decision.
If I were in your position, I'd just take up the UTS/MQ offer and transfer after a year, they're still good universities. Not worth the hassle & cost of moving to Melbourne if you're from Sydney and planning on working in Sydney in the end anyway. Transferring isn't particularly difficult, just maintain around a high credit/distinction level and it'll be enough for USyd/UNSW commerce in your second year.
You really shouldn't move for a commerce degree when you have universities on par (nationally) like Macquarie and UTS. You will not be disadvantaged at either universities unless you're going for MBB (quite pretentious, they generally just go to go8 universities to recruit).
