It is a fucking travesty. Ping pong is a "core" Olympic sport. So is badminton. Shooting. Fencing. Equestrian. But not wrestling?
Sadly, this is 90% about money, and 10% becase the IOC is run by a bunch of fat old predominantly-European spoiled rich assholes who have no concept of what it means to be an athlete. In short, wrestling got the boot because there's no money in it, very few are interested in watching unless they are/were wrestlers themselves, and it doesn't appeal to the elite country club set. The old concept of the "Olympic Movement" seems to be dead; now it's just another business venture.
If it keeps going this way, pretty soon the Olympics will be nothing but a bunch of ball games, with a few track and swimming events on the side.
I don't suppose it will do any good to complain to the IOC, although they certainly should bear the brunt of the outrage. I'm thinking it might be more effective to fire off a couple angry emails to the guys who hold the purse strings - MacDonalds, Coca Cola, and the other "global" Olympic sponsors. Somebody needs to let these idiots know they're heading in the wrong direction.