I think it could do for some clubs, but there is not (and never will be) 1 definitive answer for why clubs are closing.
A lot of factors can decide where I race, and thats been the same way for me for 13 or so years.
1) people who are good to chat and race with (people who talk smack and are hacks are not worth the membership and booking in fee)
2) location - I will travel wherever I can get to, but its usually within 2 hours drive.
3) challenge - Everyone likes racing, but it has to be kept interesting for me to keep going back.
4) life outside racing - family,friends,work commitments all play a part too.
5) racing isnt racing unless its FUN!!!!!!
These are just 5 reasons I can think of but no doubt there are more. Thats why even at new racer level breakout classes are not the definitive answer.