Canberra produced the upset of the season in a 28-4 demolition of the Broncos last Sunday, inflicting the club's biggest defeat to end a 15-game winning streak.
It came at a time when frustrated critics were predicting a second-successive Roosters-Brisbane final with both teams making undefeated starts to the season and being a cut above their opposition.
It also prompted renewed calls for the competition to adopt a tiered salary cap system, which would spread the number of representative players around as the pair host a plethora of talent.
But Baxter says the Broncos' loss shows the league is competitive and changes don't need to be made.
"It's not just the Raiders. The Warriors are looking really strong. The Newcastle Knights, there's a couple that are in that top (tier), and they're playing really good footy," the fullback told AAP.
"That goes to show that there is more than just two teams that are possible for that grand final on grand-final day.
"People have got to understand that there are other teams that have been working really hard in pre-season, and it's starting to show with how they've been playing."
Brisbane were without star five-eighth Ali Brigginshaw (suspension) against the Raiders and will continue to be for the next two rounds, but stand-in half Georgia Bartlett says the club isn't using her loss as an excuse for the result.
The defeat now puts the Broncos in a perilous position of dropping out of the top two, as they are level on points with Gold Coast and sit one victory ahead of the fifth-placed Wests Tigers.
It means this Saturday's top-of-the-table clash between the Roosters and Brisbane at Suncorp Stadium is crucial for the hosts.
Despite never playing against the Tricolours, Bartlett is aware of the challenge ahead, and says Brigginshaw is behind her.
"She (Brigginshaw) is obviously a pioneer for women's rugby league," the rookie told AAP.
"Whether it's just a simple nod of the head in training with stuff that we're doing or her personally coming up to me and having chats to me and giving me advice here and there, it's been super helpful."
The Titans will look to win six straight games for the first time when they play St George Illawarra on Saturday before the winless Parramatta take on Canterbury.
Canberra do battle with Newcastle on Sunday before the Wests Tigers and the Warriors go head-to-head.
North Queensland face Cronulla to end the round, but will be without captain Emma Manzelmann, who suffered a season-ending Lisfranc injury.
