To be fair, I doubt this can really be compared with the real, professional kickboxing though? The likes of K1 and later Glory in it's top days and such. Even in those top days, I doubt kickboxing on an Olympic level would have been interesting for many people to watch, since they want to watch the stars of the sport (think Rico Verhoeven, Cedric Doumbé, Badr Hari, Murthel Groenhart, Serhiy Adamchuk, Robin van Roosmalen and such....and before our Polish friend comes with names from the 50's, I'm just talking about a few years ago ).
Just like pro boxing has a high level of popularity, even here in the Netherlands where we have nobody in it it's quite decent at least for the heavyweights, but the Olympic boxing, with the athletes people don't know....nah, nobody will watch it anyway.
It's more about the stars than about the sport itself in these cases I think, and sports like boxing, kickboxing and MMA have stars that made or make them popular, but in a shortened Olympic version with a whole different level of athletes....I doubt it'd be a success (and a real, top-level MMA tournament with the big stars isn't going to work within a two week period I'm afraid ).