Fatal Shot
Club Cricketer
Meh, it only matters for those who actually feel the city/state rivalries within the IPL. Frankly, I don't. I wasn't very saddened by the fact that BRC beat CSK in the semis, for example. I watch it for the players, not the teams.
If the IPL want's to be a proper league then they can't go on like this. Look at the NBA. I'm a fan of the Bulls because I grew up watching Jordan. Now I'll always be a Bulls fan, even though my favorite players (Allen Iverson and Keven Garnett) don't play for them. Same applies for many Football fans. Lot's of people are Man U fans, but their favorite player doesn't have to be from Man U. I agree that some people watch for the players, but if you can't get the people to support one team, then ultimately you're failing at creating a 'league'. In the long term, if you can't have people supporting certain teams, then people will lose interest in it, because as you said, if the passion isn't there for that side, then you won't care who wins or loses.
Now lets elaborate further on the example I've given. If the Bulls are out of the playoffs, I'll root for the Celtics, because of Garnett, but if they lose I won't be as shaken. But when the Bulls lose, I'm pretty much devastated, because supporting a team means much more than supporting a player. If the IPL want's to succeed, they have to get the fans to support the teams first, and the players second.