>>103696178
Well, you have to realize that unlike the JP audience which is like 80% "it's a girl playing a game and this ojisan drinks while watching", 10% crazy women who think "she's like me for real", 4% idol otaku extreme oshikatsu types and 1% "I'm going to marry my oshi" types, the western fanbase is very split.
When HoloEN broke onto the scene, many thought they'd never do idol stuff ever - many of those types split. They didn't expect them to have 10,000+ viewers and thought they could groom EN girls - those types split and went back to their indie discords and offaki.
Numberfags using it as digital horseracing enjoy looking at charts more than having a hobby or watching entertainment. Many people came in solely as tourists or jumped viewership from [other company] and might only care about making the Holostars dolls and Hololive dolls kiss and play house, forget concerts or merch. Those kinds finally fucked off a year or two ago. And with the graduation of girls who, debatably, couldn't handle actual idol/event work, they're now incensed against companies in general.
It's not exactly dying, it's just that many of the "fans" who started 4-5 years ago were fairweather viewers and dropped out for one reason or another to receed into their private communities to be angry about something.
