^ I will try.
I think the reason for the decline of popularity of figure skating in the United States (I don't know about other countries) is simply cultural drift with respect to our tastes in entertainment.
The golden age of figure skating was not the 1990s, but the 1940s and 50s. Sonia Henie brought skating to Hollywood. Touring Las Vegas type shows like the Ice Follies were big time. In fact, the main reason why amateur skaters competed for titles was so that they could hook up with a professional show and earn lots of money. Sonia Henie made US$ 50,000,000. Janet Lynn was the highest paid female athlete in the world. As late as 1976 Dorothy Hamill said, "It was either win the Olympic gold medal and sign up for Ice Capades or else go back to Chicago and my job as a secretary."
http://25.media.tumblr.com/tumblr_m1tw12ddG91r0wh2ro1_400.jpg
Time passed. The appeal of that kind of razz-ma-tzz faded. We got more sophisticated in out entertainment tastes. (Spiderman movies, Justin Bieber concerts, monster truck demolition video games). The only thing that saved figure skating for a little while was the explosion of interest in all sports, especially on television.
Anyway, nobody's fault, but the country moved on. I believe it was in 1999 that USFS lost it's big television contract worth 20,000,000 or whatever it was. Nobody's fault, just that the television networks could see the handwriting on the wall. The newspaper guy who wrote that when the old skating fans die out, there will be a bunch of new ones coming along to take their place -- no, I don't think so (unless there is some kind of retro-kitch revival of that old-fashined cornball stuff that grandpa used to go on about.)
Now, about the CoP. I think it is a hindrance to marketing the sport to any audience. Although we can't go back to the days where the circus came to town every July and the Ice Capades every December

, we can still do the best we can to offer something of interest and value to whatever audience we can attract. I think the ISU's attitude, "The CoP is really swell, if you don't like it go to hell," is not helping.