Perhaps I'm just in a mood but I wonder if we are the last of a generation that grew up with hi-fi and made it an important part of our lives-- upgrading to the point where many of us have very fine systems, built after years in this pursuit. There is no doubt a younger, monied class, and there's the uber gear (which I don't necessarily see as a sign of health of the business but whatever- I appreciate the "blue sky" aspect).
It just doesn't seem to be a priority to some of the younger generation who face a whole set of challenges. Maybe that's true of every generation. I'm not lamenting the loss of the good old days, but I see the changes.
I'm in Austin now, after decades in NYC, and there is very little "on the ground" here, hi-fi wise.It is a "young" city with the university and all the tech. Record shops are doing ok, but I suspect the clientele isn't largely audiophiles-- maybe a few budding ones. I do try to help out the 30 somethings here in different ways, whether it is flattening a record or gifting a few and many of them can't afford a house, let alone spending money extravagantly. (Maybe spending on other things, like high end phones and ear buds, I dunno)>
Sorry if I'm being a buzzkill, not really my intention. I'm also a geezer and I'm struck by how our world has changed and will continue to change. Enjoy it while you can! (I figure by the time they haul me off to the home or worse, it won't much matter but carpe something!).