This makes absolutely no sense
Ok, I can see how anti-Americanism resulted in baseball being dropped (even though it's played not only by Japan and Taiwan and South Korea, but by virtually every country in the Western Hemisphere). But why eliminate one of the sports central to the original Olympics?
Certainly it can't be because not enough countries wrestle. I can't see any possible rationale by which this makes sense.
But then, the IOC not infrequently makes decisions that don't make much sense. It's out-of-hand dismissal of Chicago as a site for the 2016 Olympics is a case in point.