I think the people who summited Everest with the torch aren't their architects and enforcers of their nation's policies. While they might be pawns in the game, I think it was a cool idea to take the torch there--kudos to a team that can pull that off and also to any individual that can make it up there.
If I pull the focus back a bit, I do think it's a shame that Olympic celebrations are a vehicle for both political dissent and national propaganda. This definitely runs counter to the Olympic ideals.
That said, as nations, we own our actions. Like China owns its actions, so too does the US. Right, wrong or otherwise, both nations draw significant criticism for their policies, and it's unsurprising that protests have stolen the stage from the Olympics. The same thing would probably be happening if the games were being hosted in America.
China's ascendancy is an interesting notion for me as an American. On the one hand, I love to see other countries making massive leaps ahead like this--I don't see prosperity as a zero-sum game. On the other, I'd be naive if I didn't think China and America would likely be in conflict over many issues in the years ahead. There's not a lot of elbow room at the top.