Another possible factor, is that because the entertainment industry is so crowded now it's much tougher to become a skilled poet.
Someone can write a mediocre novel and make some money doing it, but how hard is it to do the same with poetry? If the financial incentive is missing, so is the incentive to practice writing poetry as a skill, and to improve our work to a point of mastery.
You might get a number of people who show interest for a year or two, but have no incentive to go further. How many of us have written poetry for over a decade? I'd guess that almost all of those who have are self-motivated, do it because they like it, and don't have much of a following.
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