Nothing is permanent. Two decades ago, India was a nobody in terms of TV revenues. There were too many government regulations and it was impossible for the private broadcasters to get a return from their investment. Rules were changed and only after that sports broadcasting became profitable in India. Pakistan and Bangladesh at this point are where India were in the late 90s. If the full potential in these two countries are realized, then they can also emerge as major markets for the ICC. But at this point, combined revenue from these two countries stand at around 2% of the revenues from India.
All teams are equal on the ground but Cricket boards aren't. When teams compete, they have the same playing field but it's a completely different ball game when it comes to Cricket boards., simply look at the voting system.
Like it or not Money is the most important thing for the ICC. That's how they subsidize test cricket for small full test members and associate nations, it's not perfect by any means but at least they have a system in place, even though it's crumbling.
Just to give you one small example of why money is important for ICC and every board; DRS and Hotspot Tech facilities cost $60-80K per match day. Every international match has this system in place (barring hotspot sometimes) and not every international match generate enough revenue. I hope you get the gist.
Generating revenue is one of the most efficient ways of earning in cricket or in any sport. But the revenue will be greater when more people become interested in that particular sport. But cricket is not very popular around the world. Also, ICC is not doing a good job of keeping the spectators interested in cricket, who are already watching as well. I know that hosting a cricket match costs a lot to arrange. But I believe if many more teams were playing cricket all these things that we are talking about (not generating enough revenue, a certain board being the most powerful) wouldn't have been any problem.
@Sithara007, I agree with you. But my opinion is that no cricket board should be more powerful than the other. I believe that all that frequent boards should be treated equally. Regardless of which cricket board is bringing the most money to the ICC.