1998 the IOC gave the IFBB status, so technicaly they can call it a sport, but it really isn't.
I had thought somewhere between 1998 and 2001 was when that happened. I recall Ben Weider announcing it...it may have been at the 1999 FIBO or something. I was watching an old GMV Productions digital video that I bought from Wayne Gallasch' website [www.gmv.com.au], and I had forgotten the year, but seemed to recall it was the 1998-2001 range.
In any case, I agree with you - it's not objectively judged, so how can it be a sport?
Then again...isn't figure skating an Olympic sport? And that is subjectively judged, so...I suppose some sports in the Olympics are judged subjectively.
Hm.
Hypothetically, if bodybuilding made it to the Olympics, wouldn't we ultimately just see the Mr. Olympia lineup winning the Bodybuilding Olympics? Presumably it would be in the Summer Olympics, and take place just before the Mr. Olympia. So the top Mr. Olympia competitors would just take it to the Olympics stage a month earlier, but ultimately produce the same result...I would guess.