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Nobody with power cares a fig about pace. Follow the money: money comes from TV. TV makes money from selling ads. The longer the game, the more ads they sell, the more money they make.
There does come a point of diminishing marginal returns, when you start to lose audience because the game is too damn slow and long. People get paid money to find that point, and the games won't get any shorter than that.
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Cheers,
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