So if the women's basketball product is that much better than men's basketball, then why does men's basketball generate much more revenue, fan interest, and competive teams?
To add to dawgstudent's message about athleticism, a few more things. There are some real mental blocks that we have as a society that keep us from really investing in :
1. Dynasties tend to be roadblocks for new fans. Why watch if you know who's going to win? This may have been what you were referring to when you talked about 'competitive' teams. The NCAA started recognizing Women's Basketball National Champions in 1982, so there have been 38 of them total. 19 of those were won by two teams: UConn (11) and Tennessee (8). The other 19 are split over 13 teams. To compare the men's "dynasties", Duke and UNC both have 5 since 1982, UConn has 4, and Kentucky & Villanova each have 3. That being said, I'm not sure that competition has a value on the overall quality of the product. It's been 25 years since we've had a first time National Champion in football and it's the most popular college sport by a pretty wide gulf.
2. Men's basketball is more 'entrenched' in our psyche. Men's basketball had 50 year head start on women's basketball. Anything outside the normative leagues we've been accustomed to as a country (NFL, College Football, NBA, MLB, Men's Basketball, NHL) struggles to gain any real prominence, especially when they're a direct competitor for those time slots and venues. How many men's college sports fail to gain a fraction of their pro counterparts (cough cough hockey and baseball cough)? How many pro leagues in how many sports have failed in the past 50 years? Go ask the people around your office who won the last MLS Cup or which XFL game they watched last weekend.
3. Sexism. Yes, I said it. We default to women's sports being 'lesser than' men's sports because on a level playing field, elite level male athletes are generally more athletic than elite level female athletes. It's a mental block we just have.
4. Lack of media availability. How would we have even seen the games before the SEC Network? HailStatePLUS video on our laptops? The random time it was an ESPN2 Sunday afternoon game against Tennessee? College baseball suffered from this for a long time too. One of the benefits of these conference TV deals and streaming overall is that non-revenue sports actually have a media outlet.
To be clear, when you hear that women's basketball is a better product, mostly we're talking about ball movement, designed plays, the 'euro step' hasn't yet been replaced by tucking the basketball like a running back and flailing toward the rim, bad play or excessive hero ball gets you benched, and just overall cleaner play.