There are lots of things that due to their, "cultural significance," are deemed worthy of public support.  The Opera, Ballet, Symphony, Seahawks, ect are all examples of businesses (they all sell tickets) that recieve some form of public support either through outright grants or use of public facilities. 
  
All those things are part of our culture, and they are some of what bring us together as a community.  I hate opera, and I'm not too into ballet other than the hot chicks yet I don't mind paying some tax dollars so we can have that in Seattle. 
  
I think the Sonics demands are excessive, but I also view them as a negotiating tactic.  Lets face it do you really want the only team that has ever brought Seattle a championship to move to Bellevue and build another arena that will compete with Key Arena as a concert venue.  The issue is complicated and deserves much more than Dave's one sentence pronouncement. 
  
PS Double E aren't you one of those glacier walking wankers...you suck too