If profit is the primary motive, then in place of New Zealand it is going to be Pakistan. Also, West Indies can't compete as such. They are a group of around two dozen different independent countries and dependent territories. In Olympics most of them compete separately, and therefore it will be impossible to have a West Indies team in the Games. Only 5 full members will be allowed to take part, and IMO they will be: India, Pakistan, Australia, South Africa and United Kingdom.
New Zealand isn't some weak associate country or something and they are performing better than Pakistan these days which is why I feel they would be favored pretty easily though I could be wrong here.
Also, the Olympics is adapting with time(Transgender athletes inclusion etc) which is why they could come up with the West Indies problem that you pointed out since that country provides a shitton of entertainment in the T20 format.