Edit: sorry that's a bit generic, but I have never heard anyone say they are looking forward to the Olympics locally, pre covid, and post, I hear a lot of people wtf'ing it's going ahead.
It's completely anecdotal, but as a private teacher at 4 different schools I have a wide pool.
The press typically reverts this outlook by going full-jingo once the event happens, and then "you" will be "proud" that your homeland could be so excellent and well-organized and now attracting even more tourists. Expect a horrifying overflow of basic nationalism.
For Japan this will now be harder, but I'm sure a narrative will eventually emerge about resilience in the face of adversity and "showing the world" some of that proverbially-unbreakable Japanese spirit. And you won't have to endure a month of terrible commuting.
The World Cup was more popular, but still wasn't widely accepted as some people think it would be.
The Olympics was outright hated, so many stupid shenanigans happened there (like demolishing a NEW stadium, to build another identical one, just because the seatings positions were slightly bad).
So no, you don't need to be first world to recognize how stupid hosting the Olympics is.
A lot of the IOC (and probably FIFA) requirements seem silly. Pretty soon, we're going to see the Olympics go back and forth between LA and Paris just because they're the only cities that naturally have the required infrastructure, unless there's a change.
The stadium in question was the one for bicycle racing, it was built for the Pan-American games.
Right after those games, IOC decided to change the percentage of seats allowed behind pillars.
So they concluded the solution, instead of reducing amount of seats or something, was to demolish the entire stadium, and build a new one with the support pillars in new locations.
But 10% is quite a large number for any event, and sure to bring in quite a bit of profit. Name me a concert that 10% of the population claims to wish to attend?
The majority indeed does not care, but a sufficiently high number does that it is profitable.
To take with a shovel of salt of course, but that feeling of just getting shafted by the corrupt politicians and the IOC, and just not wanting more money to go into the pit is echoed by the people in my small sphere.
[0] https://www.cnnphilippines.com/sports/2020/3/4/tokyo-2020-ol...
There was a heated moment the first time the gov had to decide wether to swallow the sunk costs and just cancel everything, or only postpone, hoping the situation would be better after a few months.
The first set of damages have already be paid, so now whatever the course of events, Olympics will be a pretty bitter subject for most people I think.
Edit: postponing was not penalties per se, more contracting and maintenance costs. Fixed the wording,