Chicken and the egg. Companies aren't going to invest in something that doesn't get views, but the views won't come unless companies invest. Growth has to be organic on some level, and mountain biking just isn't mainstream. It's not even close to being mainstream. I'm surprised RedBull was able to offer the quality of coverage they did, while charging nothing to the viewer. Sugary drink sales paid for all that, and I have to imagine on some level their coverage actually helped sell more RedBull.Seems shortsighted. I would think the more eyes on the sport the bigger the industry the more money for everyone.
Look at snowboarding for example, about the same age as MTB, even more barriers to entry, even more expensive and yet Snowboarding is a million times bigger than Mountain biking. Never had to pay to watch Snowboarding.
Snow sports are just more appealing to more people than cycling, particularly mountain biking. The reason you never had to pay to watch snowboarding is because it's a million times bigger than mountain biking. And it's not like coverage of snow sports on TV has any effect on the popularity of those sports.