I see his point, that they were added to the Olympics while decimating Track Cycling to make room for them, but I think he's aiming at the wrong target. Looking over the various sports that are included I see several that in my opinion are just ridiculous and should not be a part of the olympics:
* Racewalking - I mean seriously? How did this ever become a thing? Who cares?
* Ping Pong - Good god.
* Equestrian events - there are six of them. I thought the Olympics were about HUMAN achievement, why are animals allowed to take part at all?
* Triathlon - I've never understood the point of triathlons. Why swim 1 mile, bike 25 miles, and run 6 miles, when you could just bike 32 miles instead? Ok all snark aside, as an olympic sport this seems somewhat redundant, as there already is swimming, cycling, and running events.
* Basketball - More of a personal preference to be honest. I just can't stand Basketball. It's not about who scores the most points, it's about who fails to score the most points, if that makes any sense. I find it incredibly boring.
* Sailing - 10 events. Really?! There's already canoeing and rowing.
* Shooting - 15 events. I give up.
There's a ton of things that Phil could have attacked in place of BMX and MTB, imo, so I think he's got misdirected anger here.