And if they are going to do a delayed airing of something like the Olympia, they could make it a story like generation iron. Show the people getting ready. That's really how I see it getting back on television because it's not a sport and is too boring to watch
Then you're watching a show a year after it actually happened. Generation Iron was aired in 2013, covering the 2012 Olympia. Pumping Iron didn't occur until 1977, two years after the Olympia it was featuring.
BodyStars had plenty of footage of the bodybuilders getting ready for the 1992 show, as well as footage and clips from the 1991 contest.
The pre-films for the 1991 show were supposed to tell the story of the WBF superstars; the ones for 1992 were mini-movies for the characters of the competitors. Neither worked very well.
Check this one for WBF champion Gary Strydom.
Then comes the character-type pre-films.
Plus, there's a difference between covering an actual event when it happens and doing a docu-drama like Pumping Iron.
Again, with the internet, there certainly isn't going to be a major audience for delayed (and edited) coverage of a bodybuilding show. And who has the time, money, or interest to make movies out of every major bodybuilding contest, anyway?