The problem is that while many consider it just "sport", it really is a lot more than than that these days. Sport (all kinds) is one of the biggest industries worldwide, providing a livelihood for millions of people (competitors, team and organization administration, staff in concessions and marketing, journalists, and many others). For those, it is every bit as essential a business as for individuals in manufacturing, retail, and health.
It really isn't as simple as it may first appear. This is why many are are predicting that the aftermath of all this will be just as bad - if not worse - than the actual virus.