There is a lot of instant gratification and selection these days. Kids are used to instant-on games like Playstation, Nintendo, X-Box, etc.. They reset the game quickly, change the game quickly, change the TV channel, pop in a movie, and they get bored quickly. Very few kids have the patience for this hobby, and that is very sad to me.
Generally, kids have a lack of appreciation for what we have here in America. Parents aren't teaching their children to appreciate and take care of everything that they have. Most kids feel that the world owes them everything. When I was a teen, there were many other teens racing. Now, I bet the average age of racers has to be 40+ years old.