Maybe Lazeez knows. It probably is one of his nightmares that the supply of stories and the new readers who turn into premier readers that support the site dry up. Based on what I see in bookstores is that there aren't that many good new stories I want to read there, and except for Amazon, most brick and mortar stores are slowing going out of business. The last time I was in Barnes and Nobel most of the first floor was games and puzzles and cards and candy and almost anything but real books.
This side of the pond far fewer dead tree stories are being printed; I would suggest that a) electronic versions are cheaper for the buyer/reader b) electronic readers are easier to carry than a mountain of novels and c) other uses of electronics are more attractive to the younger set and d) publishers are far more aware of the bottom line and less prepared to try new authors.
I don't have proof that I can hand you on a platter. However, as an old fart, I look at all those young whippersnappers enrolled in college. A lot of them are enrolled in courses that can lead to a writing career, professional or amateur.
I believe that there is a storyteller in all of us, and an author in nothing more than a person who has found a way to release his storyteller. Some of those young whippersnappers will learn how to let their storytellers loose.
Old fart indeed - just a bit beyond a baby ;-)
Many courses in writing, journalism etc. lead to unemployment and the graduate has to find something which brings in the groats. Book writing has a reputation of not being a profitable occupation so time is used elsewhere.
Tastes change - would Faith Stone or her husband Compton MacKenzie be published today? I have a number of her books (for a personal reason) but I don't think they are marketable now.
It is often in the older people, often retired, that they have the time, the financial security and most important the experience of the decades to write. Yes, there are younger writers - some Mills and Boon authors do well because they write to a proven script. Very occasionally there will be a meteor, a new writer like James Clavell who sets the world alight, gets rich, but they are few and far between.
I was going to use Arthur C Clarke as an example but for him writing was only part of his work