That'll mean nothing in a run chase. England got to 297-6 in their first innings but lost their 6th wicket in their second innings at 196. Not too many sides score more in their second innings, unless they've had a nightmare first innings.
Since 2018 Australia have played 47 tests, winning 25. Of those 25, they've won 5 batting last, scoring 93, 20, 10, 35 and 73 to win those tests. The last time they made a run chase over 200 to win a test was in Feb 2016 in New Zealand. The last time they scored more than they need in this test to win was in 2011 in Johannesburg, where they chased down 310 with 2 wickets remaining.
There have been more run chases of over 250 that Australia have lost than won in the last decade.