The NHL really only competes directly against the NBA and in many markets where the two leagues go head-to-head the NHL actually comes out on top. It's only speculation on your part the NHL team would always be #4. Houston is big enough that a team can do very well being #4 if that was the case. I would say by your posts you're the one lacking in business knowlege. [MOD]
This of course is not true. The other leagues (professional or otherwise) have overlapping seasons with the NHL
NFL - October to January
MLB - April - June, October - November
College Football - October - December
College Basketball - entire season overlaps with NHL
Even corporations do not have an endless supply of income to appropriate to various sports leagues. They have to pick and choose and hockey usually if not always ends up at or near the bottom when it comes to corporate spending on things such as suites, club seats, general seating, corporate sponsorships.
Even in a city as large as Houston, all of that corporate strength will be mitigated by the sports options those businesses have to choose from for investing their discretionary income. NHL will be behind 3 of those teams for sure, with one of them (the Texans) sucking up a substantial portion of corporate money.
This isn't to say an NHL team in Houston wouldn't be a reasonable success. Just not nearly as successful as one would expect given the size of the market relative to the rest of the cities in the league. The revenues and earnings of a Houston NHL team would in no way be commensurate with the city's size or corporate strength. Fourth largest market does not equal fourth largest revenues or operating income, not even close.