I think it’s a combination of factors. Social media took people’s attention. Cheap, fast cars are not really sold anymore due to environmental regulations. Modern cars are less modable. Modding cars is generally looked down upon. People have less despicable income. Urbanisation.

I’m happy to have lived in an era where you can buy an Impreza for a few grad and suddenly be part of a huge community, have new hobby and increase your social life.