I’m not sure about your point about “lazy TV eyeballs” though. Every major professional league is about TV eyeballs. The NFL, the NBA, the NHL, MLB, and MLS have value because they bring in TV eyeballs. A Tennessee Titans vs Jacksonville Jaguars game doesn’t have value because they hold some ethereal battle between the spirits of the cities of Nashville and Jacksonville. The game has value because some number of people will pay money to watch that game and/or advertisers will pay money to put their ads in front of the people watching that game. That’s it.
I wonder how much. Because for me, I care about MSU obviously and therefore I care about college football and will watch other games from time to time, mainly SEC (because it's related to MSU) or the playoff (because obviously it's the national title).
Now, let's discuss pro leagues. I watch the NFL because I like football, but not as passionate about it as college. So I'm the definition of a lazy eyeball for the NFL. I am really not sure if it's people like me that make the money for the NFL, or it's the passionate fans of the NFL (basically the NFL version of what I described about myself in the first paragraph). There are TONS of those type people in this country.
Both of these, college and pro, have the best of the best athletes too. That's unique to football. Move to basketball, it's less successful. Then baseball, even less (I'm talking at the college level).
So all that said, the NFL has both passionate fans AND lazy TV eyeballs. I wonder how much success you can really have without both, and when some type of subsidy comes in. All I know is that it will likely never enter to my mind to watch the USXFL or whatever this will be named, without some significant marketing. Too many other better options available for my lazy eyes. NASCAR and golf are much better for an afternoon couch nap in the spring, than a random football game with no niche at all.