It isn't when you factor in how many actually play CS:GO. More than half don't even watch the matches. (Assumption, don't get ur panties knotted.)
CS Pro Matches are not as big as they used to be. I used to watch the televised tourneys, and more than that were watching.
The ongoing ESL tournament is braking record for cs go so I assure you the matches are getting better and better. tbh, the only good teams back a few years ago were VP and NIP and now it's like 30 different teams all of which are capable to win everyone else.