The conspiracy angle of it being in some random country is a little crazy. There are plausible angles though, for various key individuals not wanting it to be found.
Country - cost. It's expensive and like other have said, no real benefit at this point considering parts have been found
Airline - culpability. There seems to be a lot of anger from the families toward the pilot and if he intentionally did it. If the black boxes are found the airline could be liable
Manufacturer - already I believe they're being sued on the ground of allowing certain features to be shut off. I don't know much else but I don't imagine much good can be in their favor if it's found
Anyway, it's an interesting story still, but it's all but guaranteed to be around Australia. It's still totally unbelievable that a plane could go missing in modern day.
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