I think those are all accurate ways of looking at things.
To elaborate a little further...
I don't think it's necessarily any one faction or aspect of the sport of the MA's...be it MMA, the Olympics, or any tournement style....
I've thought about it since posting previously about this, and after reading the other replies...I realized that the general public isn't really looking for martial arts anymore. Not for the same thing that the public was looking for in the past...the most recent being up to the mid to late 90's. That's really when the public's perception, that I can tell, started to change.
Now, people look at martial arts more from the fitness aspect and sport aspect than anything else. I can't really say that the UFC started this particular trend...I don't think it was really just that, but it did, in my opinion, have something to do with it.
Just take a look at how martial arts in general are viewed today: back in the 80's, ninjas were all the rage. It was cool to take martial arts, because everyone in the movies were depicted as being almost super-human. Now, ninjas are made fun of to no end...and, in a way, it's because of the over-popularity of ninjas.
Chuck Norris. He used to be "the guy" to watch in movies...now, how many Chuck Norris jokes can everyone think of???
I think that martial arts, in general, are viewed the same way. People look at it now and think "What is this really going to do for me? Am I going to get into better shape? Can I take this and compete in the UFC?"
It's not really about the non-physical any more, not that I can tell. Tradition and honor seem to be misplaced...people would rather learn how to beat someone's face in than learn how to be at peace with themselves.
The best way that I can put it...
I was leaving class about a month ago, and was on my way to my car. A small boy, maybe about 10, was walking by with his dad. I overheard the little boy say to his dad, "Look, dad. Those guys in there are playing karate!" His dad's response, thankfully, was "I think they're doing more than playing in there, son."
Now, this child was about 10 years old. When I was 10, if I had walked by a dojang, I would have been hypnotized. But this child was actually almost making fun of what we do. To me, that's how the general public sees TMA's now, not just TKD. I don't think it's everyone in the public that sees things this way, but it's certainly more than a handful.
The good thing is that new students still sign up...although, in our town, it seems to be younger children that want to sign up, with very little adult response. But if we can get them in young, and teach them that we're not just "playing karate", then I think TMA's have a strong chance of changing in the eyes of the public.
Do I think that martial arts are going to be viewed the same as they were 20 years ago? No. But if you really think about it, society now seems to be harder to please than 20 years ago. There needs to be something fresh brought to everyone's attention.