Random Thoughts...
I must say that FF is still very affordable. Sure, new cars are out of reach for many. Thankfully, there are still guys building &, more importantly, buying new cars. For the average guy, lots of cars to be had for $10-20-30-40k. Pick your entry point.
I believe it has more to do with 'want to' than 'can do'.
Lots of young guns running in $20-50k SM's, Rice burners, Street Rods. Same goes for 4 Wheelers, Bass boats, Diesel Truck drags, Drag racing, etc.
For whatever reason, Open Wheel Formula Club Racing is just not as popular as it once was.
For many, the digital world has taken the place of our analog world.