I didn't know TKD was even in the Olympics until after I took up TKD, because I gave up on following the Olympics over a decade ago when [I think it was NBC] got their hands on it and worked very hard to make it no fun to watch.
At my school, the emphasis changes on a weekly rotation: [basics & forms] > [sparring with safety gear] > [knowledge & power (& breaking)] > [self defense].
Student age range is from ankle biter to people at least in their 50's.
I've asked a number of people why they come, and not one has mentioned anything about "sport" or "art". I've heard "I did the research, and TKD is the best way to get fit," from a middle-aged professional, "My mom thinks it'll help with my 'bad attitude'," from a 15-year-old, and "I'm addicted," from an Episcopalian priest.
Personally, I love everything but the self-defense, which just doesn't engage my enthusiasm as much so far. I'm crazy about the kicking, the social aspect, the teachers, and the challenge. (And now I have a friendly rivalry with a bud who studies Northern Style Kung Fu.)