OnEntertainment, I would say sports and theatrics are a diversion from real life. Hard working people and people with anxiety need something to relax themselves. They find the time to watch Sports as well as Theatre productions. It's the people's choice on what they choose. In America, team sports lead the pack on sports; and movies lead the pack on theatrics.
Figure Skating which has a bit of both sport and theatrics within its framework seems to me to clash between the diverse forms of entertainment. Most fans are enamored with the performance of the sport and do not wish to separate the two parts. Those fans have found new and interesting music in their lives and want to watch skaters perform to it especially on television. Other, who travel to FS venues, enjoy the 'show' and the commeraderie of the spectators.
The two types of fans love the fact that there is a 'show' in the SP as well as in the LP, and are adament about not changing that. They use the old format of School Figures in a PC named Skating Skills. Skating Skills are definitely a technical term which were separated in the origins of Figure Skating. Then it was called School Figures, and was kept separate from the Presentation.
The times! they were achanging!
Figure Skating became popular in the US and Europe because of Sonia Henie movies - not because of Sport but because of the glamor of it all.
Since big bucks are involved in skating, I do not see any chance for a Technical sport. That SP is one big joke and money maker, imo.