I know where the argument comes from, but at an extreme watching football with 22 folks running behind a ball in a slow game where 97% of the time nothing happens in terms of scoring, and in terms of tactics, today sounds like a handball game; it's boring (and I say that as a Brazilian and having attended more than 100+ in the stadium and more than 600 on TV).
The entertainment in the Olympic games is in the fact that those folks (especially track and field) go to the extreme and human limit. In other words, for regular sports entertainment, I can go to watch Green Bay Packers vs. Vikings or Chelsea vs. Manchester City; for olympic entertainment (athletes pushing to their limits), Olympics are the place to watch.