You are making points I entirely agree with. Sadly, it is still a problem that the IAAF has, with them living in Monaco and not seeing how their lack of global promotion and global reach is creating the loss of interest that occurred since at least the 1980's in the US, back in the days of TAC/Olan Cassell/good old boys network. Maybe IAAF thinks that, since they have a handful of longtime sponsors (Seiko, Coke, whoever) that they are doing well, but they are probably getting only a pittance of what might come their way if they look beyond knowing that the BBC has a few TV cameras showing up. What gets a viewer most excited, some crashes (there were those), nationalism (US vs. the world), drama (come from behind races occurred), the unknown (who was this Korir, this True, this Derrick, this Vail, this Mack that we saw), beautiful scenery (think X-Games, Winter Olympics, etc.).
I do see that USATF is still part of the problem, too. They could do much more than just make True their Athlete of the Week, post-coverage. Really? Really!? That's it?! Where's the New York Times, Chicago Tribune, LA Times, Boston Globe links? Do they think there aren't runners in those towns? And do they just go to Poland and NOT talk to the IAAF about how poor the IAAF's reach is in the US?
You are so right "We can have a presence and space beyond what we have now". That should be the Mission Statement of USATF.