We all know that the Olmpics are about the spirit of competition, but even more so they are abut big money sponsors getting their names pubslished worldwide. The Olmpics have always been like the world superbowl that occurs every 4 years, and as such they are always looking for each event to be something magical in its own right. The more magic the event, the more sponsors support it, and the more of the viewing population buy into world fads.
Apparently, the sport of wrestling is no longer drawing in the fans it once did. I don't think it is because people enjoy wrestling anymore, or enjoy the more entertaining versions more, but I do think a lot of the wrestling world has moved on to either Submission Wrestling, Brazilian Jiu-jitsu and Mixed Martial Arts.
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