> So I'd argue pro/rel is a net plus because it leads to better play.

From a sports perspective, sure, I agree. I've often thought that the only non-competitive position on a sports team is owner. If anyone else, coach or player, performed for one year like the some team owners do for decades, they'd be out of a job. Owners won't agree to losing their jobs (fire the bottom 5%?), but relegation ... but would the other owners want the biggest market, for example, relegated?

But this discussion is about societal value. Whoever wins and loses, every game is net zero in entertainment value (whatever that is worth): 1 win and 1 loss. Every relegation is net zero: one team promoted, one relegated. Every championship: 1 team wins, another finishes 2nd, etc., no matter who it is.