Thanks to Jonathan Rosenbaum, for pointing out the above link.
"Leni Riefenstahl" of the Beijing games sounds a bit much--he's only staging the games, not making a documentary on them, and he displays nowhere near the massive sense of opportunism Riefenstahl did. Other than that specific basis of comparison, Rowan Farrow's piece seems sound.
I've little to add, save these few questions:
1) What does Spielberg have to lose, walking away from this deal?
2) Who does he hurt? Physically, not emotionally, I mean (I know we'll hear from the Chinese on this).
3) If he walks and the Chinese go ahead with their plans--with, say, Michael Bay replacing Spielberg--will he have done anything significant (Corollary questions: if Michael Bay stages the ceremonies, would the issue still be urgent?)?
No. 3 has an answer, I think. Yes--he has refused to participate in a massive whitewash.
The ball is in his court, I'd say; action, or even silence, would be an answer.