The local fleets collapsed when the elite semi pro sailors separated their equipment and their events from the rank and file sailor.

In the USA...they changed the policies for "making the team" you no longer had to sail the US regattas.. You headed to europe to train and race. At the end... the class had a three day NA's before the ISAF grade one event in Miami... (the OCR) and that was about it.

This is not surprising. Vanderbilt and the Yacht Clubs figured out a long time ago that professionalism would ruin the local racing scene. They founded the yacht clubs on Corinthian principals. YC's ban advertising on the sails. They frown on yachts named after your business. These rules are in place so that most view the playing field as fair and fun. Once the Tornado game escalated so that the budgets were 200 K plus ... why bother playing.