It's not really surprising, but the article seems to conflate raves with nightclubs, with numerous remarks about the cost of being out at a club all night and paying for things like expensive bottle service.
Raves are not clubs, and historically have never done that well in club environments. People who are really into staying up all night dancing to techno music aren't buying expensive alcoholic drinks, they're buying cheap water to stay hydrated. Many (though by no means all) take drugs, but generally that means one dose of a drug like MDMA at the beginning of the evening. Psychedelic drugs like LSD are also associated with the rave scene but are less compatible with a nightclub environment (bars, security, overgrown disco lights). People are more likely to consume psychedelics at an outdoor party or a warehouse space.
In my view what has killed raves was the declining availability of cheap accessible commercial spaces, police/administrative hostility to informal economic activity, and overcommercialization, which has tended to select for the shittiest music/DJs.
Raves are not clubs, and historically have never done that well in club environments. People who are really into staying up all night dancing to techno music aren't buying expensive alcoholic drinks, they're buying cheap water to stay hydrated. Many (though by no means all) take drugs, but generally that means one dose of a drug like MDMA at the beginning of the evening. Psychedelic drugs like LSD are also associated with the rave scene but are less compatible with a nightclub environment (bars, security, overgrown disco lights). People are more likely to consume psychedelics at an outdoor party or a warehouse space.
In my view what has killed raves was the declining availability of cheap accessible commercial spaces, police/administrative hostility to informal economic activity, and overcommercialization, which has tended to select for the shittiest music/DJs.