I think the problem lies in how a sport is judged.
Bodybuilding - subjective, weightlifting - empirical
rythmic gymnastics - subjective, gymnastics - empirical.
A sport is anything people participate in, for sure, but an olympic event also is an event that people can discern a clear winner with their normal eyes witnessing an obviously normal set of movement patterns.
The olympics has opened the door to subjective events, so I can't imagine why they wouldn't want bodybuilding, esp if they have ratified such foolishness as synchro swimming performances, etc.
I am Anton Zdravko Martin!
Best meet lifts: Sq 150 Kg (330 lb), Bench 120 Kg (264), DL 160 (352) @89 Kg (197)
Best gym lifts: Sq 375, Bench 275 (pause), DL 370 @205 or less
Goals beyond my wildest dreams, 600 Kg raw total, 200/160/240
Hack away at anything which isn't essential. Do what you love, and do it often. Fazc.