Very true, but think about it. Tito and Bonnar are both washed up. Everyone knows they are washed up. Yet their Bellator event just pulled better ratings than anything UFC has done all year. It's indicative of the state of where mma is as a sport, and also indicative at how terrible UFC has been at building stars over the last 3-4 years.
It makes me curious to see some historical cable ratings. Bellator pulled a big number for stateside MMA in 2014, but what does that even mean in the grand scheme of things? Business is down.