I believe most of ESPN's revenue comes from subscriber fees you pay on your cable bill. The ratings aren't that important to them as long as you don't drop the cable altogether.
ESPN is the most expensive content cable providers buy. The ridiculous expense of cable is a major factor for cable cutters, which are gaining momentum. That is driving down subscription revenue and ESPN's revenue. Low ratings also drives down ad revenue, which is where ESPN ultimately is paid. So, they are in an endless cycle of cutting expenses and employees.
Some cable operators are even offering packages without ESPN to offer a lower cost alternative.
For the life of me I can't figure out how bringing Olby back helps with any of this. Looking to lock down the liberal football fan market? Good luck making money from that.