Not to minimize the pain a lot of people are going through right now, but I want to provide some context:
While a lot of people who voted no on this referendum had poor intentions, there was a significant percentage of progressives including indigenous people who voted no based on concerns that this proposal would be an unreasonable compromise, and potentially be an obstacle in the way of establishing a body/system that would have actual power rather than being advisory only.
A lot of the media and politicians worked hard to silence the questions and concerns especially of indigenous activists, including the most progressive party removing an indigenous senator for refusing to endorse the proposed system, it seems clear to me why a lot of people did not trust the proposal.
It remains to be seen what proportion of the no vote came from pro vs anti indigenous rights proponents, and how the population will react to other proposals such as treaty and truth telling, but it's certainly not as clear cut as the media narrative that "most voters don't want indigenous rights", and in my opinion, there is a lot of potential for much more substantial positive change in the near term, based on the efforts of the past few years and decades