Actually, high res formats brought vinyl back from the dead. When Sony disscontued support for SACD, and DVD-A didn't really go anywhere, they couldn't make TT's fast enough. What happened with those 2 formats is a direct cause as to why vinyl is doing so well today.
I'm not sure about that. From what I see at record stores it seems about 95% of record sales are people who have systems that would be better used for CD playback. A cheap CD player will almost always outperform a cheap TT with built in phono pre (numark/crosley).
The resurgence of vinyl is not about sound quality it is about hipsters being ironically cool.