I always side with the idea that the Olympics should be the best of the best. But IIRC, cheer has been added as a provisional sport and there are so many differences in the cheer world already, I'm okay with "dumbing down" the skills to get a solid foundation that other countries can get on board with. Otherwise, if there isn't enough active participation from other countries, the sport will be removed from the games (e.g. baseball). What is a common skill here in the US is not common throughout the rest of the world. That's why the international score sheets at Worlds were changed to put more weight on stunts rather than tumbling since other countires lack access to instruction and basic equipment like a full floor of gymnastic mats. Forget a spring floor. Even the top cheer school's dont have their own spring floors. There's a reason why dead mats are still very common outside of US all star cheer.
It's not uncommon for countries to prop up state-sponsored training once a sport is in the Olympics, purely for political purposes. Training facilities, equipment, advisors, etc are set up to support the athletes to represent the country well and to show it's "strength". ("Rising Phoenix" on Netflix is a great example of this.) It's very possible that the exposure cheer gets at a globally-acknowledged and politically-charged event will progress the sport further at the global scale and will lead to evolution of the sport - in both skill and structure.
Sometimes you need to take a few steps back to keep moving forward if your goal is sustainable growth. Besides, to people familiar with cheer, we know the differences and we know that a double is more impressive than a full, all-star cheer is more fast paced and more fun to watch, etc. But to the common viewer, they don't know the difference. A flip is cool, a spinning flip is cooler, a "throw-the-person-in-the-air-while-they-flip-upside-down-and-then-catch-them" is jaw dropping. Whether potenital viewers are in-depth experts or just watching because "it's the Olympics!", it's a fun sport to watch and takes a lot of athleticism.