The link is is the encycopledic article to the sport. The article is not very good, but gives you an idea of what the game is like. Please note the Spirit of the Game section is especially bad because this is biased in favor of an unsportlike concept.
I believe Ultimate has a flaw because it does not allow refereeing. I believe not ALL games can be refereed because of finical and labor issues, but I believe you can't not forbid refereeing from the game. It should be an option and right now, all the governing bodies forbid it.
If Ultimate is to have international standing, it requires refereeing. I have experience that although nonrefereeance encourages noncheating, it actually does not encourage sportmanship.
The reason is because by being your self referee, you must know the rules, having a knowledge of the rules becomes the essential part of the game. I've played with a team who I thought were my friends, and then at the end of the game set, they became extremely competitive and did not invite me to the year end tournament. Why did this happen? This was my first year of playing Ultimate. And instead of focusing on the athletic part of this sport, they focused on the unsportsman aspects of the sport.
If Ultimate is to be competitive, then Ultimate has to have refereeing. Is it going to be an Olympic sport? Nothing is stopping it from being an Olympic sport, but its professionalism.
Does it have wide market share and do most countries play it? You bet.
Is it competitive? You bet. And with it, the excitement that comes with watching it.
I live in Edmonton, Canada and am interested in organizing Ultimate with referees. I welcome you to comment on my post if you are interested in seeing a change in Ultimate. If you have played with Ultimate, or currently play Ultimate, but feel the same way as I do, I invite you to comment. If you know Ultimate like you know the back of your hand, then I invite you to comment, because I am interested in setting up some Ultimate games that are refereed.