This is why the Olympics as we know them should be abolished. It's supposed to be about the athletes, not the country they or their families are from. In their current form the Olympics are just another vehicle for rabid nationalism.
each sport has its own world competition
i do think more attention can be paid to those individual competitions but, for instance, everyone loves curling when it comes on the olympics - how many olympics curling viewers will tune in to the yearly world curling championships?
superbowl and world cup are ratings extravaganzas much huger than the 'regular' games
people tune in for the stories/events much more than 'just' the competitions - drives me nuts but that's the way it is
the olympics still has the capacity for being the 'peaceful' way for 'warring' nations to compete - in a way it was easier to do that during the cold war
now that we're a bit more global, identities are a bit squishier - that could be celebrated, but we see it getting weaponized
it's unfortunate, but getting rid of the olympics would cure nothing