What's going on with the audio market?

Why would anyone be surprised?

High end audio is an interest embraced by baby boomers who grew up with it since high school.   As we boomers diminish in numbers , we are replaced by gen X'ers and millennials who were not raised with it.  And have no interest in it.  How many of us boomers with good audio systems want a hoverboard?  Its that simple.

So no wonder the prices have gone through the roof - manufacturers know they have to make their money now while they can.  Half of these audio manufacturers know they will not be around in 10 years.  The industry may not be around in 20; just one more generation.

Its not the only industry (or institution) in trouble.  The times they are a changing.

Throughout the last 50 years I have personally known maybe 6 people...outside of the audio world...who cared about audio equipment. It has always been on the periphery.

Wow, too bad.  My experience has been quite the contrary.
When I started in High School everybody either had or wanted a good stereo.  And a hot car too.

Its only now that I know 6 people, outside the industry, that have an interest and I can talk audio with. 

Personally, I don't see a drop in audiophile interest...it merely seems to exists in the same world of esoterica as always.

Now its esoteric.  But it once was mainstream brother. 

Oh yeah, my numbers - 58, 17, maybe 4.