I was reading an interview with the band "Agriculture" recently and they had a really interesting take on this. From this interview https://www.treblezine.com/agriculture-interview-quiet-viole... : "DM: We exist as a band because we sell t-shirts. Our job is that we sell t-shirts and the way we promote those t-shirts is by playing music. If we were talking strictly economically, that’s just a fact. LL: Weirdly, it’s…
The point is that punk rock was culturally very influential but never very musically popular. God Save the Queen was a hit record but that is the outlier.
I think it is useful to consider that a lot things that endure are not the things that were popular at the time, particularly with music. I saw the Pixies at the Hollywood Bowl a couple years ago and it occurred to me that when they had recorded the songs they are known for I saw at venues not much bigger than bars. They were never really that popular. Or Elliot Smith, who was seriously obscure in his short lifetime.