So far, I haven't seen anyone who thinks the point is to pull in the March Madness crowd (except you - no offense.)
I would imagine there are a number of groups who could potentially be swayed:
"High-school-only" wrestling fans - a LOT of these out there
"Freestyle-only" wrestling fans (particularly those not in the US - who aren't familiar with folk style)
MMA/combat sports fans
Slap Fighting fans
Gamblers looking for more sports to bet on.
Cornhole tournament fans, etc... some will watch just about anything on ESPN
ESPN guys are the ones making some ~$3 Billion/year in profit from some ~$16 Billion in revenue. I bet they know a lot about how to sell sporting events. Probably quite a lot more than your average college wrestling fan.
Then again, there are always going to be some who think experts are all incompetent and that decisions should be made by those with no specific knowledge or experience (ex: decide by internet vote.) Can't change stupid.