The problems about Olympics etc. are:

• Loads of money in it
• National prestige in it
• Political prestige of particular regimes in it.

For a sport to remain attractive in such circumstances, the regulations and controls must match the immense temptation to cheat (by doping, bribing or inhibiting competitors, bribing or influencing the referees, ...). Exact measurements only avoid the latter problem; the others seem to be unsolvable. Journalists and spectators who value fair and exciting sports had best tone down the hype about prestigious events, particularly the link to national glory.