Now, I have no better words from @JSRAW because he already gives them proper 100% right feedback about their qualities and abilities which are they doing for the progress of this game from current update as you also mention we will have only 5 teams which will participate in this Olympics game and these will join this event without any qualifying round so look like things are going into negative way from the start and with this all we have no chance for the cricket to have spot in these games it's just for the paper work with they are not serious about this all.
Squash and Baseball having better chance for the qualification in these games because these both games having better system and things which are required for the participant countries with these associations are also doing better effort, hopefully we will be out with some respect and enjoy these defer without any better effort in next few years.
I spent some time comparing with other Olympic team sports. I don't want to compare football, since it is immensely popular, and therefore went with field hockey and handball.
In case of field hockey, the main tournament had participation from 12 countries. Japan qualified as hosts in 2020, and one team each qualified as the winners from Asian Games, Pan American Games, African Olympic Qualifier, EuroHockey Championship and Oceania Cup. The remaining 7 teams came from the FIH Olympic Qualifiers. Teams participating in FIH Olympic Qualifiers were further selected from FIH Pro League and FIH Series Finals. So in total more than 40 teams took part in the qualifying tournament. In case of handball also, it was similar. Apart from regional tournaments, other teams qualified through IHF Men's Olympic Qualification Tournaments, and there were 12 participants.
I am not sure how the ICC's proposal will gat accepted, given it has no qualifying tournament.