I am also growing really tired of the emerging sentiment that if any one makes any money off it, the whole thing is a big sham. Lots of people work hard to provide entertainment that people want to see, and advertisers want to get involved in...they deserve to make money accordingly. This does not make them evil nor does it squash any significance of it. How would you like it if others questioned the significance and validity of what you do every day because of that salary they pay you? Come on...
We can agree to disagree becaus I think you misunderstand my POV, Andrew. The IOC is an organization that purportedly exists for a "higher" purpose than athletics (or profit). Athletics exist everywhere and, like you, I am a fan of almost all of it, although my including soccer in the comments is not a coincidence. What I am asking is if the Olympics is simply one more of those events, like those you mentioned, what is so special (Question mark).
For you, that "special" piece might be the national rooting interest and that's fine. But if the main point is the annihilation of the opponent at all costs, I think that diminishes the spirit of friendly competition (an Olympic ideal?).
What I do like about the Olympics are stories like that of the lone Afghan woman competing against all hope of ever appearing in a final and against the wishes of most her country men and women because she believes she has the god given right to do it and it's right. That is something you don't see in professional sports and it's what the Olympics used to be about. Thank heavens they still hold to some of that.