Why would BCCI look for profit through women cricket when they are making more profit every year through IPL? WIPL will not generate revenue for them as not many Indians watch women cricket within India. Have you ever seen a lot of crowds gathering in the stadium when women cricket is being played in India?
One of the concerns is that the WIPL may take away audience from the IPL or dilute the brand of the IPL. It is true that unlike some of the other countries such as England and Australia, women's cricket is not that popular in India. But similar to what happened with the IPL, if the WIPL is launched it can cause a spike in the popularity for the women's game. It will bring big bucks as well, as some of the corporates and celebrities who can't afford franchises or sponsorship in the IPL may opt for the women's variety.
No, that was never a concern that WIPL will take away viewership of IPL. The truth is women cricket doesn't have viewership in India. The situation of women cricket is still better in india than in the neighbouring cricket playing nations. BCCI doesn't want to gamble with WIPL and waste its time and resources when they know it will not be successful at all.