I don't think there's anything wrong with pool's game design. 9 and 10 ball are essentially perfect television cue sport games that are fast paced, explosive, and provide a lot of dramatic moments. Straight pool can potentially be great TV viewing if they structured the scoring differently, like race to 5, 50 points per game, alternative break. Straight pool typically produces the most imaginative shots.
Like I said in the "pool is dying" thread, Americans don't watch pool not because the game is bad or broken, but because they just don't like watching pool and would probably rather play it. Bowling has suffered the same fate. Too many sports and events to compete with, from the 4 major sports leagues, to MMA, Golf, College Sports, and Soccer now on the rise (Unfortunately. Colin should agree. That's a sport for wogs and poms

), etc, etc.
If pool is to catch on again here as a television spectacle, it will be fueled by a combination of a charismatic player/personality and a cultural event, like a great pool movie or television show.
That said, (American) pool is healthier than ever from a participation standpoint. It once was solely an American past time, now participation spans the globe. If you went back in time and told Greenleaf that the Filipinos would be dominating the game, he'd probably say you were nuts.
I just want to see a structured pro tour with good prize money, and the market is there, especially in Asia (China is probably a lost cause now with the emergence of Chinese 8 ball, which will become their main cue sport), but the people in charge obviously have no idea what they're doing and seem to operate out of self interest rather than helping the sport legitimize. Nothing to do with the game and everything to do with broken leadership.