Anyone is going to probably choose a championship over long-term competitiveness and entertainment, but of course that's not a choice anyone has ever had to make -- and championship teams also tend to be entertaining with a few exceptions.
But the idea of seeking entertainment rather than a championship is something pretty uniquely applied to the Suns in basketball, because they're the "best franchise to never win a championship." The fact is that the Suns at their most entertaining have also been the Suns teams closest to a title.
But also, to be fair with respect of the idea of "entertaining" basketball, we discount gate receipts these days because of the mammoth TV deals, but for a long time you were done as a franchise if you didn't have them.
In the first 20 years the Suns existed, the Celtics and Lakers won 12 of the titles. Six each: the Suns lost to the Celtics once in the finals and twice to the Lakers in the conference finals. The other teams who won were the Bucks (with Kareem after the Suns lost the coin toss), the Rick Barry Warriors, the Bill Walton Blazers, the Wes Unseld Bullets, the DJ Sonics (who upset the Suns), the Dr. J. and Moses Malone Sixers, and into the Pistons era.
During that time, there were 7 relocations, a few of which could surely have been prevented by entertaining ball or a top-tier player like some of the teams above had.
Besides, if the Suns were really only about entertainment and fan service, they wouldn't have traded Westy for DJ, and they wouldn't have traded Majerle for Hot Rod. Even when they traded DJ they traded him for a center.