As opposed to all the charisma we got from previous champs? Not that I disagree with your premise.
I am not saying that all of our past Olympians were on the level of Arnold in terms of recognition and likeability, but it seems that most people could care less about Phil Heath.
Many non Olympians of yesteryear were far more popular and interesting, then today's crop of pros. But I don't want to make this about Phil Heath, as much as to use him as an example to prove the lack of interest in the current state of bodybuilding.
People actually wanted to see the results of contests that Arnold, Haney, Yates, and Coleman competed in.
The top 10-15 in the Olympia used to always contain great pros with fantastic physiques, that actually battled it out for positioning.
Now it seems like it is a show of attrition, with the winner being labeled "The guy who looks the least like shit."