It's inevitable, anyway..
david weaver
In the old days, shows and print media attracted all of the ad money. Where else would it go? mailers and catalogs, I guess, and there was probably more room for profitability in well made tools (the last part is important, because there's plenty of profitability in overseas junk).
It's inevitable that the publications would go downhill and get stuck focusing on data (which I believe is probably the cause for catering to beginners - they're the ones who buy the most) until they're toast. There are too many other sources of information that are free or low cost.
I had PWW and FWW subscriptions years ago, but it didn't take long before I realized that there were far better sources of information on the forums. FWW was too power tool focused for me, and I don't much favor Chris Schwartz's writing or preachiness. If you have a real question, you can post it somewhere like here and get answers from professionals (or elsewhere, George Wilson comes to mind, or Warren here).
Man can only take so many blanket chests and folding book stands. (and for the turners, I'm sure there's a similar thing "great, another bowl hollowing tools. Wheee!")
The point of it being inevitable is this - if the industry is flush with cash (as it was years ago - print magazines, etc), then you can get over the bumps without any issues. The mediocre survive and the strong thrive. The market of subscribers and the value that they perceive is now such that the mediocre disappear quickly in retrenchment, and there are seemingly no particularly strong players, but the longest lasting will have the same end. It's not the mediocrity that caused the lack of revenue, it's the difficulty in revenue that creates the lack of focus.