Sharky, of course you're RIGHT!
Nothing ventured (or invested) means nothing gained.
Adapting, in the case of doing mailers, means more work for much less profit. Whereby once, your massive email lists were making it to the desktop of 95% of your destinations, now only 30% get it, and the CTR is lower than it's ever been for email marketing.
So what do most people do? They give up the game. They sell their lists and hype up to potential buyers how much money they can make, but in truth, it's how much they could have made if they had their hands on these lists etc.. 2 or 3 years ago.
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