I think the tradition of having the Olympics should stay. Everything else about them should be changeable.
This is the first truly technologically remote Olympics we have, and no one is really the wiser seeing empty stands on our screens. We need to adapt the Olympics to modern technology standards, maximizing the audio, visual, and lighting components for our social media age.
Couldn’t we even have a dispersed Olympics? We have one host country, but have each sport played in the BEST venue for it’s kind around the world? Japan can host the ceremonies, but beach volleyball would be played in the Caribbean or some beautiful island, soccer would be played in a cooler European climate in their astounding soccer stadiums, etc. Athletes could stay in world-class hotels, instead of comedic dorm rooms.
To the viewer it doesn’t matter as much, and it’d stop that overflow of tourism and construction that comes from each event.