While not wishing to bat for CASA, I do think that as with many industries technology has changed ours. Take Kunnunurra as an example. Many of the 40 year old C206/207210 etc that used to swarm around the Bungles in the dry season have been replaced by newer, safer, more efficient and HIGHER CAPACITY C208's. Bank running reduced through technology.
At the other end regional airline coverage has expanded reducing the demand for point to point charter flights (not to mention occ health and safety, risk aversion of potential clients).
Rightly or wrongly, cadets are becoming a more common path to fill the cockpit as the opportunities in GA diminish.
Thirty years ago 50 percent of new CPL pilots were unable to gain employment and gave up with very expensive debts to pay off. Perhaps things are no better or worse today-simply different.