Bodybuilding is not comparable to any regular sports, not even to table games which still provide that expectation factor that causes excitement and interest that keeps people watching as it happens with regular sports.
Blaming drugs as the cause for bodybuilding not being on TV is a bit unconvincing given that in regular sports athletes also take a few things from time to time. It's true that people see bodybuilders and think "that size was achieved with drugs", but that is not the main reason why bodybuilding isn't popular and not shown on TV.
Bodybuilding doesn't provide excitement and expectation as regular sports because there isn't confrontation of skills and tactics that will defeat the rival, all the previous work done before presentation is for the sake of looks; not skills "look how big I look, look how veiny I look. Don't look at him; look at me, I look better".
I said it before, bodybuilding puts patriarchy in conflict because men are not supposed to become objects for scrutiny.