I don't think ol' man Ralph would ever dilute his business. Plus if he went public, he and the rest of the folks at OBD would finally be accountable to the shareholders (i.e US!!!). And where he could make unilateral decisions, he would now have to consider the opinions of the other major stakeholders. I mean you don't go about making decisions without including Samsung. We would end up being the Same-sung bills after all.
It is an interesting debate though. On the one hand you would have more corporations - local and national, bringing money into this franchise, which would allow us to go after the big fish. On the other hand, you have to listen to these corporate shareholders whose agendas definitely go beyond football and sporting performance.
On another note, this forum would go nuts if the Bills went public. Every poster would go, " As a shareholder in the Bills, I own coach so and so, and I want him fired for punting on 4th and 2 and not going for it! My 5 shares have to be heard dammit!"