Yes you can bash, does not make it true. Keep in mind that while Olympics was a goal of the TKD the "Olympic dream" didn't not take shape until 1988, when it was introduced as a spectator sport in the Olympics. By then the art was already practiced world wide and I would gander made itself known as one of the world's most popular martial art if not THE most popular art. So within 15+ years, it thrived and survived without Olympics. If it gets its status taken away as an Olympic sport, it will continue to thrive and survive. Mst. Cole has already pointed out the multitude of competitions that will go on, and he really didn't even put in KKW sanctioned events such as the World Hanmadang or even the US Open National Hanmadang, which has no connection to the Olympic movement whatsoever.
The organization is not the problem. It is the leadership that is the problem. Do you leave America because you don't like the government? Of course not (well hopefully not). You work towards changes in a grass roots effort to change the leadership, hopefully, for the better.
You are just looking at one instance of a genre. While BSB may fade from popularity the Boy Bands have not and that type of genre is still alive and well throughout the world. If you don't agree just take a look at Korea where the top music are done by Boy Bands like Infinite, Super Jr and ShinEE just to name a few. BTW...BSB still tend to have high ticket sales for their concerts and maintain a popularity even today. The whole Twilight movie may have sucked but the Vampire movie genre it help popularize is thriving quite well. Not everyone is going to be a TKD star, but that still does not mean that TKD will cease to exist or cease to remain one of the world's most practiced martial art.