Imo, we should have one, or at most, two Olympic states. They’d be small countries that are more-or-less politically neutral, and instead of sending teams, their purpose would be to host the Summer and/or Winter Olympics. Construction, maintenance and upgrades of the facilities would be paid for by participating countries, as a percentage of their GDP. That way, the hosting country(ies) wouldn’t have to spend billions building the facilities, they get guaranteed tourism every 2~4 years, the facilities get reused, non-hosting countries have a place to measure their penis size, don’t have to spend outrageous sums to build their own facilities (they’re all paying together, after all), don’t have to bulldoze houses or forests, be concerned with water quality, and probably many other bonuses I’m not thinking of.
Bonus points if the facilities are open year-round for Olympians to train at, so that the athletes are more used to the climate, equipment, tracks, trails, etc.
The biggest downside is that hosting the Olympics is prestigious itself and generates a lot of tourism revenue (which in this case, would only be going to the “static” host(s)). It’s a chance for the host country to show off their economic strength, culture (like during the opening ceremonies), and more. You’d have to convince countries that they’re better off without the tourism and chance to flaunt their wealth.
This game is already out. Why did we need an update on an announcement for a game that’s already released?