Your mistake is in not realizing what a lot of people have plainly suggested. You actually believe that GST was an unintentional failure? Of course it wasn't. Michael Johnson, Kyle Merber, and investor Bill Ackman pulled off a scam. It was obvious to anyone with half a brain from the moment GST was announced and the details and prize money were announced.
It was simple. "Let's have four meets in four prime locations and let's lure Olympic athletes by promising them $100,000 if they place best in a two-event double combo. Their agreement to participate automatically captures their sponsors who will want to advertise and pay us millions to run ads and display their logos. We also will get money from broadcasting services and other advertisers along with ticket sales. At the last minute we can use the excuse of low ratings or anything else to cancel the last meet and make up further excuses to not pay the athletes. "Civil Unrest in LA" gave these crooks another excuse even though it wouldn't have affected the meet at all and made no sense.
Now time will give these crooks the opportunity to conceal and embezzle as much revenue as possible, cook the accounting books, and file bankruptcy claiming they don't have the funds to pay the promised prize money. The whole thing is an obvious swindle. Why can't you see this? You are completely misinterpreting the events as Michael Johnson being in over his head and creating a catastrophic business failure, but the evidence points to this being a large con job.
As unlikeable as they may be, one must give credit where it is due to Sha 'Carri and Noah for not falling for what they clearly saw as a ruse from the get-go. I bet anything Sydney probably saw right through this sham but cleverly used the opportunity to compete in off events, build her brand, and maybe demand further fees from her endorsements.
This whole thing has FRAUD written all over it in capital letters. If MJ did really mastermind this operation, I must say the elaborate idea and planning is an impressive con-job, though without a doubt criminal and immoral. He does seem like kind of an idiot though, so it is more likely the brains of this operation and the originator was likely Ackman or some investment crooks behind the scenes who planned the whole thing and just convinced MJ and used him for his name and recognition.