A confluence of three things:
1) In West Wing Season 7, all the tv networks are upset about the Democratic National Convention taking up so much primetime in August because it doesn't make for good ratings and August is always a bust with the Olympics and the National Conventions. (It's not that the Republican Convention is that much more exciting. It's just that the Dems are in the White House in West Wing.)
2) I remember people bemoaning the Winter Olympics because no one watched. I however LOVE figure skating and skiing so I don't know what gives.
3) Currently, and maybe it's just confirmation bias. It seems like everyone is watching Michael Phelps at least, but also other parts of the Olympics like the stressful gymnastics competition. And now I find myself totally echoing the sentiments of the GFY girls.
So is the Olympics really boring and a ratings buzzkill? Is this 2008 Olympics special in its viewer devotion? Will the United States ever budge out China from the top Gold Medal spot? Is it fair to expect the US to dominate every event in the Olympics or is it okay for Michael Phelps to be our record breaker this time around? I don't have enough perspective to answer any of these questions.