NFL has far fewer games and a far larger percentage of them broadcast on either network TV or basic cable compared to NBA.I mean sure...but there’s illegal streams to NFL games too and NFL ratings are up while NBA ratings have dropped significantly. Either way there are less people watching and it will impact revenue. As for the China deal, that’s fine, it may be more, may not be after the issues, but it’s still not going to be anywhere near the $24.5 billion the US contract is/was. With the rating drops NBA revenue will take a hit when the media companies come to renew their contract to broadcast the games.
merch sales and other types of revenue are going to go up more than you're giving credit for. The NBA will find a way to make all the money it needs. There is not a problem.