At the beginning of the cycle, there are few profits. But at the end of the cycle, the product becomes a commodity, like salt and sugar. Price becomes a big issue. Consolidation occurs, and there is a shake out. The suits at corporate want to cut costs.
Growth slows because the demand has peaked.
Some folks can't accept this, and expect for things to just continue like they did in the good ol' days. And, there's a lot of bickering and grief over the loss of something that was really great. Take your own guess as to when the current product cycle for Country radio started. Garth, Clint, Vince, Trisha, etc. Now that era is over, and a new one is seemingly yet to begin.