Well the lack of popularity of collegiate wrestling speaks for itself. One on One sports thrive on the marketing and promotion of the individual competitors. That's why the Davis Cup in tennis is virtually ignored and team karate tournaments only flourished when Billy Zabka led the Cobra Kai to near victory 25 years ago.
Besides, there wasn't even any innovation in the scoring. One point per victory? At least collegiate wrestling rewards pins and major victories with extra points. How interesting were tournaments in the IFL after a team won the first three matches and clinched victory? About as exciting as watching the last seven innings of a baseball game when your team is up 13-0.
Seriously, for a guy who once had Mike Tyson under contract, Larkin shouldve known better. If there was a Team Tyson in boxing consisting of fighters Mike handpicked, would that make you watch or even care? We care about the competitor we come to know and the IFL never did its job of emphasizing the individual competitor, hence its failure.