Decline of the scrapbooking "business"

A new post over at Scrapbook Update got me thinking about scrapbooking and its "decline". 

Why do you think that the industry has seen a downturn?  Is it strictly due to the economy or are there other factors?

Besides the economy, I think that another reason for a decline in scrapbooking purchases has to do with saturation of the market.

Paper lines have all begun to look the same.  How many companies need to make paper with owls/woodland animals/cherries/birds on it? 

Then you have companies like Hambly Studios... pretty, high-quality products that are different, but too "far out" for most scrapbookers to use.  How many things can you use chandeliers and vintage bird cages on?

Then we have a million tools that all do the same thing.  Corner chompers, paper gators, round-it-all... whatever you call it, it's still a corner rounder.  Just because you color something pink and give it a cute name doesn't make it "new and impoved".

My personal vote for scrapbooking's "jump the shark" moment (and if you don't know what jumping the shark is, look here)?  Fiskars Rock Paper Trimmer. 

So tell me what you think.  Do you think that the scrapbooking business is dead?