Agree there's a big IF as to whether an expansion is a white elephant, but putting that big IF to one side, expanding because of business reasons makes sense.
Sure, a sugar daddy and TV revenues are the big income streams, but that's not a reason to overlook ticket/merchandising/hospitality revenues. I mean it's not as if they don't give a damn what the ticket prices are...they do...they're trying to make money....
Similarly IF they could make additional cash, by expanding the stadium, building a hotel, having a monkey petting zoo or whatever, they'd do so!