I think that in the rush to blame CASA and the government for declining GA activity, people are not aware of the general populace attitude. They know nothing of CASA, regard small aeroplanes as annoying noise makers that could crash into their houses and as rate payers do not want to pay for local aerodromes. They see no value or benefit. They nearly all live in coastal suburbia so see no impact other than perceived nuisance. Blaming CASA will never overcome those issues. Only the industry and aviators can do that.
As an aside, what is the total national market value of all recreational water craft compared to light aircraft?