The whole cheerleading thing always seemed a bit archaic. Probably not a good idea to teach girls to view themselves as pretty objects that ornate the work done by men. This is less of an issue in high school and college but was taken to extremes in the NFL in the 90s (in terms of the outfits, the routines, etc.).
That being said, I'm not going to get up in arms about cheerleading in the league (and the US as a whole). People can do what they want. I just don't think it's much of a loss, quite the opposite actually.