It's unfathomable. Every Olympics, everyone complains, but it looks like they're still doing it. When I watch the Olympics, I want to see the elite athletes who've struggled for years to be there, not listen to announcers blabber, not watch cute little vignettes thrown together by the network to highlight the few athletes they've selected to be their media darlings this time around. If NBC were to cut out all the stuff they've put together and just show THE OLYMPICS, we'd be able to see A LOT more competition.
What the Olympics should do is not sell the rights to the whole games to one network, but let the networks bid for each event. That way, the events that less people were interested in could go cheaper to a network with shallower pockets, and people would get to watch the events they want to see!