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i think the real reason Indy is in trouble is because of market saturation. Look at the stats. We have nascar stock cars, which are shiny things going in a circle. We have nascar trucks, which are boxy shiny things going in a circle. We have outlaw racing, which are weird looking shiny things going in a circle until they're too dirty to be shiny anymore.
In short, we have too many shiny things going in a circle - something which was barely interesting to begin with. Especially with the increased exposure of F1, WRC, SCCA racing, etc on Speed Channel, people are starting to figure out that there are more interesting races to watch than shiny things going in a circle.
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