this population thing... i feel like you guys are just talking past each other, only hitting semantics. the old timers may be a bit off on the timeline, but the reality is, not long ago (for long timers, meaning a couple years back or so), was the first time we started seeing 2 digit populations become a "thing" for d2/d3. we were all used to low triple digits being the floor. in a very short time, things dropped where suddenly double digits is the norm for d2/d3 in general (with very few exceptions now, it appears), and you started seeing freaking 60s and 70s. it was insane how quick it happened, from this end. we definitely saw the decline hitting pre-3.0 being announced, but it wasn't much before - i think a lot of the 2.0 problems basically really started to show, and then they went to do 3.0, and people really strongly disagreed about what the causes were and how to reverse them. so a lot of that got tied together, in a sense.
this game has been pretty broken for pretty long. its impossible to argue is it reason A or reason B, because there are many. lack of advertising, or more appropriately, lack of meaningful efforts to attract and retain new coaches on really any front, is obviously a contributing factor. how much? who knows, but its certainly one factor of many. the problem to me is, people come to this game to coach Kentucky or North Carolina. they get here, and most either 1) get wrecked, are hopelessly lost, and leave before they really give it a shot (too hard to get a basic grip on this game), or 2) they get the basics, join the community enough to hear just how tough and how long a road it is, to get to a+ d1, and they aren't up for the long haul. a small remainder stays. in that kind of setting, advertising is probably not going to be that cost effective. i suspect WIS has run sample ads and seen little returns, and drawn the same conclusion. when i joined (10? years ago), i felt the road to high d1 was far too long for the average player, and it has gotten *far* longer. that is clearly going to cause problems.
until this game is more accessible, it will remain an extremely niche game. i hate the soccer mom-ization of more "hardcore" type games, personally, so i kind of hate what i'm saying here - but there is a huge difference between my personal preference and what is good business. and truth be told, if you asked me to pay 20x more for a game that targeted people with my personal preferences for gaming, so that a game could be supported on a much smaller base - i probably wouldn't really want to do that, either.