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Certainly would have probably done 3x what it will do. A lot of people don't even have internet, people could already buy it both online and on tv before. I'm not sure how having less options is going to be a good thing.
Holloway/Ortega only did 240k. This was never going to be a high PPV, and from some reports the UFC's deal is set to give them guaranteed revenue for the first 500k so they don't care and won't be making cards as such. Their goal is to be on ESPN and the constant general coverage that entails, rather than single nights of high coverage.
But I do fully agree that limiting options isn't a good thing. That's the opposite of capitalism.