I believe Bryan Ansell was one of the founding fathers of Citadel way back when. There is a document authored by Ansell arguing that miniature prices are too low, produced quite a few years ago when Foundry (his company) seemed to be growing strongest. Citadel, Games Workshop, and Foundry all share a common point. They were businesses first, hobbyists second (at least for the decision makers).
I believe the decline has more to do with population. Each of the European Gamesdays takes place in reasonably compact countries with large populations. The USA with 250 million people can support several well placed Games days. Australia has just over 20 million people with the major cities well spread out. To travel to Games Day is either a 10 or so hour drive (800 km I believe) or a flight. I believe 80 percent of patrons for Sydney Games Day would have to come from Sydney itself, and while Sydney is quite a large city (4 to 5 million people), you need to be able to draw on more support. US Games days seem to occur in densely populated regions with several cirties in close proximity (Baltimore, Chicago, and LA). UK is compact enough that travel from many cities is quite easy (though may be expensive). Local support is limited toNew South Wales by and large (at least for the retail part of the day). We also don\'t attract International entries. Our nearest neighbours aren\'t known for their wealth. Australia and New Zealand are largely European, with the nearest neighbours being Papua New Guinea, several Pacific Island states, and Indonesia. None of these has a thriving Games Workshop Community (or even a store).
Any entries to the Golden Demons must come from a very limited pool of painters. While our best are world standard (There are quite a few up there) the contest as a whole lacks depth. I am top 400 painter here on Cmon (though going back down rapidly) and yet have little difficulty winning local contests against the half dozen or so other entries.
I myself was put off for a couple of years by accusations of poor judging, nepotism and corruption made on local forums by a certain participant, as well as constant griping about lack of organisation. I am sorry it has gone and I allowed the opinions of others to sway me. I no longer will have a realistic chance of seeing how I go against the top painters in my country. But on sober reflection it\'s demise seems to be an inevitable result of our location.
Like many fields, if we want world class competition we will have to leave our own country, or wait and hope someone steps up to take the burden. At least there are on line competitions.