But the lack of prominence of the guitar in the top charts and the way social pop culture influences people today does have a significant impact in new guitar purchases. When I was a kid learning the guitar, dad's old Fender wouldn't do. I HAD to have a Satriani-style Ibanez, my guitar hero at the time. I have a friend that, throughout the years, has invested over $100K getting himself each and every one of his heroes guitars over and over. As guitars are not as prominent in mainstream music anymore guitar sales dwindle.
Add to that a huge "installed base" of used guitars, a good that is unparalleled in durability, and you have a very stale market for new guitars that will generate a gap for years to come.