There's definitely been a move towards social media promoters making sports, versus yesteryear's slower moving partnerships of manufacturers, league bodies, and

There's definitely been a move towards social media promoters making sports, versus yesteryear's slower moving partnerships of manufacturers, league bodies, and sponsors. "Esports", though it has various early history, has fallen into being predominantly a construct of this kind of hustle; if you can get some bodies in the same in-game space and on a live feed, you can come up with a way to build events out of it, offer prizes and all the rest. Thus even some relatively obscure stuff like speedruns of modded NES games will boast a small scene. I think of it not as one type of thing overtaking the other, so much as it is something like an unbundling of the traditional sportsfan experience. The individual athletes will have one set of content, the leagues will have another, and you can participate in either with fewer commitments. Sponsors get a smaller but more focused niche market to tap into.