To be honest this Olympics is the first time I paid attention to track cycling, or even watched a track race, but I've enjoyed it, and have seen friends who never watch any cycling on TV get quite absorbed in the action. It seems made for TV, especially when compared to the certain stages of this year's Tour...
I've also been surprised by the spread of the field compared to what I'd heard from people in the road racing forums here.
The perception is only Anglo countries care about track, but looking at the medals table for the last track world championships, there are lots of non-Anglo countries like Germany, Russia, China featuring heavily, and the 57 medals were shared between 22 countries, with 10 non-European countries and every continent except Africa represented.
Comparing that to, say, the podiums of last year's World Tour events - the 81 podium spots were shared between only 18 countries, with Australia, Colombia, and the USA the only non-European ones.
Obviously road cycling is way more popular in general, as road cycling can happen anywhere there's a road, but it's wrong to say only UK/Aus care about the track. I'd love if there was a Belgian track renaissance for example. Instead of one of the flat middle eastern stage races, imagine if there was a big, televised, pre-classics warmup track meet in a packed velodrome in Belgium featuring road sprinters and hardmen?