Well, with a West Village location potential back in the mix, we can more obviously create two competing, publicly subsidized sports/entertainment/convention/parking empires in a CSEC West Village and a Stampede's Stampede Park. If the rumours of provincial involvement are true, we can also use public funding from a whole other layer of government here so it's not even just local public funding at stake.
While it might not be a land efficient or cost effective outcome - and the direct competition created by each will undercut the business case for the other - I can think of a few dozen people who benefit so it's not a total waste. Our goal of course, is to ultimately to resolve all these pesky "market failures" preventing both us and the billionaires alike from accessing the arenas we want.
But why stop at only 2 competing entertainment districts? What's good for the goose must be good for the gander - anyone else we want to help out while we are generous? Maybe Calgary Sport and Social intermural clubs could use a few hundred million in public funding too? After all, we have about 5 "western themed" heritage museums that all do similar things and rely on public funding and an inordinate ability to attract provincial attention when they are struggling, why not have 5 entertainment districts?