as long as mlse is making money from the Raptors
they aren't irrelevant to the ownership or to the city. and they definitely aren't irrelevant to the nba because we are the only international franchise, and stern is interested in promoting that.
they are not relevant to hockey fans, but as we all know they are very relevant to the (significant) segment of the toronto population that likes basketball and doesn't like hockey. and with the growing urbanization of canadian cities and the large immigrant populations that have no connection to frozen games, i hardly see a forthcoming decline in the number of basketball fans.
sure, we'll be more popular if we're winning. but that hardly equates to any kind of legitimate irrelevancy that would endanger the franchise.