Ping pong is definitely an obscure sport. Again, outside of East Asia, I'm not sure it's played at a professional level anywhere. It's not about skill versus athleticism, it's about where you can get the medals. Producing 2-3 world class ping pong players(whether or not ping pong is popular in China is immaterial here) is much easier than producing 12 world class basketball players or 23 footballers. Especially when the rest of the world seems to not care about ping pong.
China played the US in the final of the 1999 women's World Cup but women's football was in its infancy back then. It was easier to invest some money and have results. Now that the women's game has finally gotten some respect in Europe and there's actual investment, China's not even among the top 10 countries in the world. Hell, they even failed to qualify for a World Cup 2 cycles ago.
I suppose I don't know the details, but if China is investing into men's football and men's basketball, I'm not seeing the results. The Chinese Superleague is chock full of foreigners, and that especially goes for key players on teams. Last year, there were two Chinese players among the top 10 scorers. 5 Brazilians, though, and not Brazilians who are of any real quality. Meanwhile, the men's national team is as far from qualifying for a World Cup as they've been this millennium.
One Chinese player in the top 10 in scoring in Chinese Basketball Association this year. Same with rebounding. A few more in assists. China lost all 3 of its group games at the current FIBA WC, and by a lot.