Potential late entries of former New York Mayor Michael Bloomberg and ex-Massachusetts Gov. Deval Patrick into the Democratic presidential race are casting doubt over the significance of upcoming presidential debates.

Either man’s unconventional candidacy would need to overcome the hurdle of missing the first four debate rounds and difficulty of qualifying for future stages. That amounts to a bet that the debates are little more than a much-hyped television spectacle that does little to move votes in early nominating states like Iowa, New Hampshire, Nevada, and South Carolina.