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Sports, Politics, and almost all entertainment media are certainly true. I don't get what "smartening up" has to do with armchair booking, since one can readily armchair book wrestling without necessarily being "smart" to backstage shenanigans. Movies and TV are rife with exactly what you describe in the first post, Thed, and that's the traditional meaning of armchair "whatever."
So yeah. I'll throw in books (Look around on the internet regarding the end of the Harry Potter series, for example), music (Everyone knows what direction their favorite musician should take) as part of media. Almost any entertainment media will do. Armchair directing, armchair writing, armchair production...
Industry? After the auto industry failed, tons of people started talking about what they should have done. Banks, too.
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