I think a olimpic sport as compition for Aikido would definatly hurt Aikido an here are some reasons why.
1. how many times do you see people walk in a dojo stay for 3min at the most and pronoucnce it fake. you see if it was compition spectarors may ( I am not saying they will but in my expirences). they may think taht it was set and not worthy.
2. IF Tomok Aikido is gonna do olimpics they will probably think all Aikido is like that and 90% of the population proably dosent know there are 101 diff expressions of Aikido ( hint I donno how many there are but heheh) and they might think all aikido is Tomok.
3. People may start Aikido but for the wrong reasons. meaning not for harmony ( which is why we get engergy from training is becasue we are in harmony with the engergy of the universe) but for our egos sake and start to spoil the dojo.
4. I think it could discrourage those that are old and weak or are disabled or have a helath condition and it might prevent them from wanting to train or start becaause they may see only the Atheleticaly built Aikidoka ( I hope not but hey it is and Atheletic event.)
my 2 cents worth..
By the way Jim where are u from??