Is modern baseball "high-production-value entertainment"?
For basketball and American football, those sports weren't exactly blockbusters either. The rules and strategies of those games have been carefully tailored over the years to cater to action and scoring, something that was never going happen to the rules (or laws) of soccer.
Agree. "Culture" provides the nurturing "gap fill" while the capital is not exactly flowing and rules are evolving over time. Culture keeps the lights on in lean years and builds camaraderie when the sports is thriving.
Cannot keep count on how many times I have heard of "Babe Ruth" (1895 - 1948) mentioned in a movie/tv show entertainment context, where a grandpa or an elderly figure is fondly reminiscing things to their gen X grandkids!