For my part, I don't expect cricket to ever be a permanent part of the Olympic schedule but when certain countries host the Games (Australia, India and possibly the UK or South Africa) and have suitable cricket stadiums that can be used there are financial and other reasons why it could be included.
The quota argument is a good argument against cricket but actually a better one against baseball and softball where the squad sizes are so much bigger.
I think 2 cricket tournaments of 8 teams would take up around 240 quota, about the same as baseball/softball in 2021.
You could even cut it down to 2 6 team tournaments with 14 players on each roster (168 quota)