What you’re saying about squeezing UGA out of Atlanta is not relevant, simply because they already control the Atlanta market. UGA does not need to continue to play Tech in Atlanta to maintain its stronghold on the city. Tech resides in the most populous metro area in the southeast, and cannot fill the 3rd smallest stadium in the southeast (only Vandy and Duke are smaller.) You’d be hard pressed to even find a single neighborhood, block, street, or even apartment floor anywhere in the state, and even in Atlanta, where the majority of sports fans there root for Tech. There’s probably just as many out-of-state fans in Atlanta than there are Tech fans.
Add to all of that the fact that UGA has the potential to play 3 games in Atlanta every single year without Tech on the schedule (CFA Kick-Off, SECCG, Peach Bowl), that extra game at Tech every other year is virtually meaningless for their connection to Atlanta.
To answer your question, their target demographic is everyone residing in the state of Georgia. Yes, that includes Atlanta. Sanford Stadium can hold 73% of the total Athens population. Bobby Dodd can hold 11% of the city of Atlanta’s population, and less than 1% of the entire metro area’s population. Guess which one of those stadiums sells out consistently.
I don’t want to stop playing Georgia. I hate Georgia, and hope Tech beats them every chance they get. But, Tech needs the UGA rivalry waayyyyy more than UGA does. If COFH was permanently cancelled, Georgia Tech football would be about as relevant as Mercer football in the state of Georgia under the current circumstances. If Tech does start competing for ACC championships and NY6 games, that may change, but right now Tech can’t afford not to play Georgia, unless they can replace them with Alabama, Florida, Auburn, Tennessee, LSU, Oklahoma, Texas, Michigan, etc. But even those games won’t matter if Tech can’t beat them every once in a while, which is why COFH has lost much of its meaning. 4-16 since the turn of the century does no favors for drawing attention.