Being new to sailing, here is my opinion.
I think that if it is not dying a slow death, it is just not growing. IMO, it's an expensive hobby/lifestyle and it has a considerably slower gratification cycle in today's fast pace, instant gratification world. Absolutely nothing wrong with that at all, but I would have never been able to afford the time or money
when I was raising kids
and trying to make a living in my younger years to learn and afford to bareboat charter
Also IMO, unless you live pretty close to a marina or sailing club, it really is inconvenient to pick up the hobby. Living in Central FL, there really is no desire or demand for it either with anyone around my age. Many tell me that is awesome, next vacation
you plan, "count us in" etc. Now that I am looking to do it again, no one has the time or money
I had a mentor tell me one time, "If it's not growing, it's dying" and he meant this about anything, plants, money, businesses, churches, etc. In my limited experience with sailing, it doesn't look like it's growing a whole lot. I'm sure in the cruiser's world, there are exceptions and it seems to be growing due to less anchorage space than years prior, but sailing as a whole just doesn't seem to be attracting the numbers it use to.