South Africa have won four and New Zealand three of the 10 World Cups since the first in 1987, but neither country is in line to host a future tournament with the next finals set for Australia next year and the United States in 2031.
The bidding process for hosting the 2035 Rugby World Cup opened last October, but the early interest has excluded the two rugby giants.
"I think we have moved away from the philosophy that everybody must get an equal chance to host a World Cup," Oberholzer told a SA Rugby press conference on Monday.
"New Zealand and South Africa will not make the money out of a World Cup that World Rugby needs. I don't think it's a negative on us. It is more what is more important for the best interest of rugby."
Both countries have a stuttering economic outlook and little government appetite to spend money on sporting showpiece events.
New Zealand co-hosted with Australia in 1987 and on their own in 2011 while South Africa staged the 1995 tournament but has lost several bids since.
"The Rugby World Cup is the only revenue stream for (governing body) World Rugby that must fund the whole ecosystem, and all the members get some funding out of a Rugby World Cup," Oberholzer added.
"So World Rugby must take the World Cup to where they can make the most money, and to go where they will be supported by local and national governments."
