I think it's a several fold problem the main points being:-
a. A fear that the opening ceremony will be naf with a few Morris Dancers, jellied eels and Pearly Kings and Queens kicking about singing Chas and Dave songs- after the Chinese effort I think people are apprehensive about how well we can do.
b. No-one can get any tickets- THAT I think is the main thing to be honest, it's elitist and appears to be underhand and corrupt and very much what the Olympics shouldn't be about.
c. the vast expense and lack of legacy- nothing meaningful will be left behind for the country except a huge debt.
d. The logo and kit does look as though it's been designed by a 7 year old circa 1975- truly awful in terms of style, taste and successfully maiking anyone want to wear it.
e. Cheer up- however badly you do, think of how bad it would have been if it'd have been held in Northern Ireland;-)