My 2 pennies, or in this case, 6 pennies,,,
The newer generations, millennials and Gen Z's, are not interested. And then the post checker flag drama and controversy.
Not enough teams who can compete so it's the same 3 or 4 who win every year.
The cost (someone made the point, tickets, food, drink and hotels sold at a premium).
Way to much tech.
Most, including me, prefer the comfort of home (aka, fridge, refreshments, bathroom!)