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It's not an infomercial. What are they selling? They're providing entertainment. It may not be your preferred type of entertainment, but that doesn't make it an infomercial.
OTAs should be limited in the amount of infomercials they can air. Go off the air overnight or air something of some value besides straight marketing. Otherwise, you're right, there is zero incentive to air actual programming if they can sell the whole 30 minutes as an ad.
Most indy wrestling feds sell (1) tickets to upcoming shows and (2) DVDs of earlier shows. I used to be a pro wrestling mark. I recognize pro wrestling as entertainment. Sure, the matches are fixed, but so were all the gunfights John Wayne and Clint Eastwood were in. Pro wrestlers are some of the best stuntmen around. And the storyline angles are as good as any soap opera, if it's a well done fed. I'm no longer a fan, but I appreciate the entertainment value of good, top-quality pro wrestling. But appreciating it doesn't change the truth about it. Small-time, independent pro-wrestling promotions are what they are. Feds like Ring of Honor are to the top feds like WWE the way a bar band is to an arena headliner rock band.