I guess if it's bringing the world's nations together to celebrate the accomplishments of their peoples, to compete in an arena rather than on the battlefield, then it's fulfilling Coubertin's vision.

In an old-man-yells-at-cloud kinda way I do find it weird that they're calling it "sports" rather than "games". We could just as meaningfully bring everybody together for Olympic Backgammon and Settlers of Cataan.