Not really. It's just as irrational. Why destroy something because you lost a video game? I've been frustrated before due to a game, but never anywhere near frustrated enough to destroy something that I paid a lot of money for and am very happy with. At most I'll slap my desk or something, but that's nowhere near hard enough to have any effect.
I'd say, based on most of the answers here, that the reasons behind the sports scenario (people who are spectators) and the reasons behind the video game scenario (personal failure) are very different.
Ironically, the only game I've ever damaged my own stuff over was a sportsball game.
Most games you fuck up due to your own incompetence, but football games and the like make you feel like you could do nothing wrong in a game and still lose. It's infuriating.