I've been trying to think of what the Pan Am Games most closely resembles, and I've settled on an undergraduate production of Chicago.
It's definitely better than a high school production, but nobody is pretending that this is Broadway. There's some talent in the cast and you can tell that one or two of the leads are probably going to go somewhere, but the balance of the team is best described as enthusiastic. The production values are uneven, and the audience (a half-full theatre of mostly friends and family) have a certain grit-your-teeth-and-smile approach to the whole thing.
Now don't get me wrong - the cast and crew have poured their hearts into it and for many this will be the pinnacle of their theatrical careers. It's just that their marketing campaign to get the general public to show up is woefully optimistic. And while most are working for free they still wouldn't have been able to mount the production without a generous subsidy from the student body.
Some may think that this is the next-best thing to professional theatre, but nobody beyond a small core is under any illusion that a kick-ass production will prove that the town is capable of landing the next touring edition of The Lion King.