Our room stayed full.
Not to disparage other vendors, but many need to do something in order to attract attention. How many rooms have you gone into only to forget what you saw and heard in a space of five minutes? Dr. Harvey "Gizmo" Rosenberg had it right when he mixed daiquiris in a blender powered by his amp at the 1985 CES. To top it off, he did it while wearing a kimono. People remember that to this day. For a vendor, being remembered should be the point of doing a show.
If vendors would concentrate on making their rooms more interesting, rather than making excuses about why theirs sucked, shows would be packed. Not taking any risks at a show is the biggest risk of all.
That 50% decline may be misleading. It is true that dealers have shuttered their doors, but the cottage industry has grown. And, a lot of the cottage industry is off the audio grid, as far as statistics are concerned. Many operate as a sideline to a machine shop, a cabinet shop, a design firm, etc., etc. Others are simply unofficial, and do business under the radar. Then, there is the matter of money changing hands. Cottage industry guys are much more likely to barter with their products, so a fixed dollar amount can no longer be applied to the high-end audio industry. All bets are off as to its true size.