I disagree. I see it as just another way for the installed regime to say "look what 'our way' gave you: the Olympic games.
while it will help to expose the citizenry of China to the ways of the rest of the world, it is certain that Olympic promotions in China (posters, advertising, etc) will be covered with the faces of Jiang Zemin and other leaders.
In the long run I don't think it helps that much, other than an economic shot in the arm.