Sport is a pass time for some people. Some people find it fun and interesting to watch, some do not.
I don't get what the point of this is. You make the Olympics sound like a waste of time.
Let me say this.
The video games you play. You play them for, what, a few hours a day?
Why? What do you achieve?
What could you have done in those hours? Could you have cooked that recipe you always wanted to try? Could you go watch that movie you heard was pretty sweet? Could you perhaps, by any chance, exercise so that you would be fit enough to maybe do those flips or kicks or whatever you are doing in the games you play?
Companies spend millions developing video games. Why? Video games achieve nothing. That money could go into the medical system to help others.
Comparing positions and medals? How about positions in video game tournaments and prize money.
Everything you have said can be turned directly back to you and your hobbies.
However, you know why they do this? Because people are proud of what they do. People are proud of their accomplishments. You ever been happy about being top of an MMO server? or beating a boss that's extremely difficult?
It's the exact same for these people, except everything they are doing comes down to their own abilities as a human.
So, to sum up, you can whine and complain about how you think the Olympics are a waste of time, but I will bet you a million dollars that, at the exact same time, someone is complaining about one of your hobbies in the exact same fashion. Get over it, everyone has different pass times.