It is a wise decision. Infact all players who are offered captaincy (including Dhoni) must turn it down and must put a pre-condition to BCCI to appoint a full-time coach before the tour of Australia before accepting captaincy.
It would not be fair on a captain (whoever it may be - sachin, Dhoni, Kumble or Ganguly) to be asked to lead India in Australia without a coach to share the burden. Even with a coach it is going to be an extremely stressful tour. Without a coach it just becomes impossible to match the Aussies let alone winning even a match.
BCCI neither seem to be any closer on having a coach nor do they seem to be serious about appointing a coach. I guess they will again give another veteran (70 yr old) a free ticket to tour Australia and enjoy the all-expense paid trip.
Dravid quit because he felt the stress of captaincy without a coach but the BCCI did not seem to get the message
