It is less trendy to complain about the relatively low unemployment and well-maintained civic infrastructure; both of which are boosted by a strong international business presence which employs a lot of people and brings a lot of wealth to the city.
Losing that international presence risks turning the city back to the dirty, poor, backwater it was in the 80s. If living with a couple of major international events a year is the alternative, I know which one I’d choose.
I think the cancellation of the MWC is a disaster for the city, not just in terms of short term economic loss, but in terms of longer term strategy, as the MWC is already muttering about following other events to Madrid or elsewhere.