Seriously, if you're going to design a competition format primarily around what keeps casual audiences interested, then you're not going to meet the needs of the majority of competitors, and you're also not going to meet the needs of serious fans.
So the made-for-TV events should probably designed to appeal to casual audiences, and keep the championships designed to work best for the skaters and the internal values of the sport. What format is best for each is open to debate, so let's debate it.
The problem is that casual audiences tend to be most interested if an important championship is at stake. But important championships require that many skaters get to participate -- not all of them will be medalworthy, but they have to compete in order to sort out which ones are, this week. Important championships require measuring skills that are important to the skaters even if they're boring or invisible to casual audiences.
Do important championships require more than one competition phase? Maybe, maybe not. Pair skating only ever had one phase up to the 1960s. In the US, juvenile competitions, and intermediate pairs, only have one phase. At higher levels, could the long programs be structured to measure everything important that's currently measured in short programs, and then some?