The problem is that even blitz/rapid requires a sincere knowledge of chess to enjoy - and not just moving the pieces (many people who 'play chess' only know "king pawn up 2 is the best move, the horsey goes 1 -2 - over, and the queen is the best!"), you have to know what forks, pins, skewers, etc. do, and you have to be able to spot them on the board. Chess is not made for TV....it's just terribly boring for anyone who's not a chess player, and, as a chess player, I have to pause blitz/rapid GM games and analyze the position to understand WTF is going on.
Maybe some people think that the opening repertoires of modern GMs are boring, but that's because they're not paying attention - opening fashion seems to change by the minute......two years ago, you saw nothing but Sicilians from e4, now you see tons of classical games, next year it might be all Scandinavians. Chess is a niche game, and it has been everywhere at every time except for a brief period in the Soviet bloque.
Chess is declining in popularity but I think there are ways it can be popular again. The first step would be to get away from the stereotype of it being a boring game played by old men. We have the opportunity just to do that. With a top ten populated by young (20+ years old) players and the excitement that comes in a rapid/blitz, chess has the potential to be a loved spectator sport.
Don't get me wrong. I still think Classic time controls is the "correct" way to play chess. But I don't think it is suitable for television (if the goal is to get televised), as viewers will easily be turned off when a commentator blabbers for hours about this variation or that because a player is spending 30 mins. on a crucial one move.
Rapid/Blitz is the answer to this. Here are a few points why I Rapid/Blitz is the future of Chess:
1.) Excitement
Imagine a player surviving over a 5 sec increment and managing to beat his opponent who still has 5 mins. in his clock. Imagine the commentators go crazy about it too. That's how you put hype in a "quiet" game like chess.
2.) Many Gambits/Crazy Openings become Playable Again
Which is unlikely in a classical game as the player faced with the gambit/crazy opening will probably find the best moves with so much time. In a blitz game, the only way you will find the best moves if you are familiar with the gambit/opening. Also, in a blitz/rapid format, we will see them more often as surprise openings designed to rattle the opponent.
3.) Commentators won't get bored = Audience won't get bored
In a rapid game, they can briefly go over possible variations but spend much less time than in a classic game, as players are surely to move faster in shorter time controls. In a blitz game, checking variations is not easy to do, but commentators could do a move-by-move commentary like a blow-by-blow commentary ala boxing.
4.) Changes overall perception
Most new players I know are really mesmerized when they see a blitz game. They'd think that blitz players probably memorized 1000 openings and variations to be able to play that fast (which of course is not true). I have a friend who is almost a pro-level Starcraft player who started getting serious in Chess after seeing a blitz game. He commented how both games were more or less the same but admitted that "Chess was way more complex and fun".
That's just my thoughts. What do you think?