Here are the problems with the Olympics
1) Corruption central
2) Waste of public money (publicly funded for all intents and purposes)
3) Often over budget
4) Inconveniences the locals with increased traffic, garbage, noise, etc
5) Opening ceremonies have been used as propaganda platform (UK: UHC, RUS: Hammer & Sickle (communism), also Nazis)
6) Are there any long-term gains to the local economy playing host to the Olympics?
7) Increasingly totalitarian security
8) Do locals even get to put it to a vote? Don't countries simply bid for hosting, voters be damned?
9) Boon for human trafficking (mostly for prostitution)
10) Globalism
Hard to see positives outweighing the negatives. The Russians' incompetence at hosting the winter event further compounds my disgust.