Like many things in modern life, SxS events tend to get caught up in their own minutia. Like scores, gauge classes, special manufacturer events and displays, association displays and shoots, etc.
While there is nothing inherently wrong with these, too little regard is given to FUN. In my view, more low-pressure FUN should be the object of shooting events rather than "scores."
What's more, the SxS community is based largely on age-based intangibles. Like tradition, style, sentimentality, history, appreciation of art and craft... not to mention civility and honor. These elements are in decline these days. And often superseded by competition, structure and complexity of event elements.
And finally, there is AGE. Just look at the fellows who attend these events. They are aging Baby Boomers. And year by year, more of them pass into the Great Shoot in The Sky. And they aren't being replaced.
So, if there is one key void in the SxS crowd it is youth. And by that I mean most anyone under 50. The same is true with most any worthy "gun show" today. Look around. Mostly geezers. And they want to SELL guns. Not buy them.
Combine this with the few remaining Fall seasons left to us Boomers and you get declining attendance.
Just my two cents worth (and possibly over-priced)...
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