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I think this is the prevailing consensus now. It was once believed that arena/stadiums were some great investment and boon to a local economy but in most cases they just turn out to be money pits.
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I don't even necessarily disagree with that - I think a new facility/stadium/arena can and often does create an opportunity for surrounding businesses. I've seen it first hand. But that doesn't justify having taxes pay for it, IMO.
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I'm glad the people voted against funding this shit. I enjoy sports as much as the next guy, probably more than many, but less than some. But why in the world should I be paying for these rich people to get richer? They have plenty of money. Mahomes and company can forfeit some salary or endorsement money to build a nicer facility, if that's what they want. And the owners definitely can spend their own money for it.