"turning sport into a mechanism form making money"

What is so wrong with making money? Why make money from music or art? Sport is an art as well.

The Olympics aren't a "justification" for making improvements, but a damn good way to share the cost in an efficent manner. Of course, it depends on the host committee.   The '76 Montreal Games might still be paying off the debt, but the '84 LA games turned a sizable profit.