The hype around Rousey and her accomplishments themselves mirror those of Royce Gracie very closely. I wouldn't use them as examples of something different.
Rousey's accomplishments in her division speak for themselves. Other than her beating male BWs and being a "once ever" athlete and shit like that (and there IS lots of it, I admit) they aren't really saying much that isn't true.
As for Conor, very good fighter, but absolutely no reason whatsoever for this degree of hype at this point, based on his accomplishments.
But this has been going on forever in combat sports. Does anyone remember Michael Grant in boxing? The next guy to unify the HW belts we were told, then lost his first fight that involved any pressure and tailspun out of boxing without leaving a mark at all.
Talk and putting on a show can get you farther than your resume should... Prince Naseem Hamed.
Muhammad Ali. One of the greatest HWs of all time, yes. But without all the talk, poetry, shuffling and swagger, would he really be remembered as much greater than Joe Frazier?
I don't know. Things aren't THAT different from how they always were.
Did you actually see how they promoted the fighters in the early UFCs? False weights, false belts in bullshit disciplines. Wasn't Gary Goodridge representing the fighting discipline of armwrestling as a world champion or something?
There was some real Frank Dux style shenanigans going on in the early and mid 1990s.