High-End Golf In Trouble

Hello. I told my wife about my incredible Wooden Sticks experience. When I was done, she asked how many people took advantage of it.
Believe it or not, only about 60 people felt it was worth taking a Wednesday morning off to spend $110 on a course which regularly charges $250. When on-cart snacks like Powerade, water bottle and nutrition bar are thrown in, plus an all-you-can-eat breakfast and lunch buffet including drinks (and free Coke refills!!!!), it's an incredible deal!
Why such low numbers? While I can see regular fees being too high for most players (including me), this deal was too good to be true. And yet it was not even half full.
My theory is that high-end golf in particular is struggling. If you are not entertaining clients via expensing your rounds or holding tournaments, golf is just too expensive, plain and simple. While I was coughing when I had to play $50 30 years ago for Glen Abbey, it relatively speaking was a bargain compared to the $250+ green fees now, or the $20,000+ initiation fees.
The other issue is that the boomers are getting to retirement age. The 5% who are comfortable are able to afford it, but the rest do not have the money (and, as a result, the time) to play high-end golf.
Where does this leave golf? More next week.

Regards,
Steve