Earlier quoted context omitted.
Too bad they didn't crowdsource the decision about whether the olympics should happen this year: https://sports.yahoo.com/cancel-the-olympics-japanese-people...
Canceling Olympics is difficult. Whoever cancels it, has to pay hefty fine, either the host or the Olympic committee. The pandemic is sadly not the valid reason to cancel them, at least not in committee's eyes, so Japan was strong handed here.
Hosting the games ends up costing the host countries more money anyway so if IOC skips over them in the future...so what?
E: this assumes the fine isn't already in escrow