Why does anyone care about what anyone else spends on anything? I suggest considering the following guidelines: (1) Spend your own money how ever you want; (2) Resist the temptation to sit in judgment on others who spend differently than you do--either more than you or less than you; and (3) Call the hobby whatever you want so that it reflects how you view the hobby. I understand OP's reasoning, I just don't think it accurately reflects cause and effect.
IMO audio equipment enthusiasm isn't shrinking because of terminology. And it isn't shrinking because potential new adherents are becoming convinced they can't afford it. It is shrinking because we are making less communal investments in music appreciation and education. Thus, fewer people believe music is a worthwhile "investment" of their time or their money or both. The music is what matters and because fewer people value music, fewer people are attracted to pursuing "quality" audio equipment to faithfully reproduce the sound of music. That includes the DIY segment. I would argue that the Asian audio market has traction because that part of the world still values music education and invests in it.
IMO audio equipment enthusiasm isn't shrinking because of terminology. And it isn't shrinking because potential new adherents are becoming convinced they can't afford it. It is shrinking because we are making less communal investments in music appreciation and education. Thus, fewer people believe music is a worthwhile "investment" of their time or their money or both. The music is what matters and because fewer people value music, fewer people are attracted to pursuing "quality" audio equipment to faithfully reproduce the sound of music. That includes the DIY segment. I would argue that the Asian audio market has traction because that part of the world still values music education and invests in it.