The average "Joe" doesn't watch "pool". They watch "PEOPLE PLAYING POOL"!
You can have a guy in a tuxedo, in a sterile room, without a noise, running more balls than Willie Mosconi and never missing and 90% of the people would change the channel after a couple minutes.
You pretty much just described snooker over here!!!
Yet that gets a lot of viewers still, so its not that simple.
Personally I think its about perception, which could be solved with marketing, ideally the World Championships needs to be a flagship event on something like (in the UK) Sky Sports, like it used to be for things to really kick off.
I believe the reason why snooker is popular is because:
1) Its marketed well
2) The prize money is excellent (people like to see people playing for big prizes)
3) The world championships are considered very prestigious, perhaps thats just a British thing, but over time it could apply to pool too (I mean outside the existing pool community who appreciate it already)
4) People sitting at home know they couldn't come close to a pro on a 12 foot snooker table. In reality 99% couldn't on a 9 foot pool table either, but perception wise (I'm going to blame 8-ball and perhaps 7 foot tables here) people think pool is easy and anyone could play it well
5) This is the tricky one...over here at least its considered almost part of the furniture, a good traditional event (again the World Championships I mean), perhaps in the 1980's when we only had 4 tv channels there was nothing else to watch, something like 1/3 of the country watched the 1985 World Championship final apparently!!!
Its also worth pointing out that in Europe (but not the UK), they have the Eurotour, you can buy a season pass on Kazoom, which has excellent quality coverage of the whole season for a fairly low amount (I can't remember how much exactly, but I'm sure it was less than $50 for the entire season last time I checked), so there is some market for it.
Here in the UK we have GB9 (our 9-Ball tour) which has free streaming and the IPA (a Blackball pool tour), which also has free streaming. I'm not sure how many people watch these streams, but for those who just want a pool fix they are free, so worth checking out! However as of yet I guess they aren't marketable enough to charge for, but who knows, as the tours get more popular over time, maybe one day they could be snapped up by someone!