Some good points there Meomy - But from what I've seen from the working class people (which includes myself) and their perception of the racing industry there are many more problems holding us back - some of the problems our own doing and some out of our control -
EXAMPLES - Many Generation Y people have had limited to NO exposure to horse racing - more so if their parents weren't horse racing followers/owners.
Jockeys/trainers behaving badly ( Drugs/ sex scandals/ groping in public etc) doesn't help the cause.
Dodgy Trainers selling on dodgy/f.cked horses and/or over inflated sale prices (via Kickbacks etc) for the sake of hiking the price payable to enter a syndicate.
So you could say some participants have "Shit in the nest"
SOCIETY PROBLEMS AFFECTING THE INDUSTRY - EXAMPLES
People struggling the either pay the rent, save deposit for a house or if they are lucky enough to be paying a mortgage - on top of rising food/power/fuel and living costs - Makes racehorse ownership the last thing they will be thinking about.
I wish I had the answers to make the industry thrive, so as many people as possible could experience the thrill of having their horse cross the winning line first - but hard to see a radical change happening with our small population and how we have already lost at least two generations of owners/punters.