RE: How does the economic situation affect the hobby?
My taking on this issue is that before the stock market goes back up to cover lost wealth in 401K and other investment, the retired or to-be-retired folks will considerably spend less on this hobby, unless the price of everything can go down proportional to the lost wealth.
Other than the lost-wealth point, the purpose/usefulness of the hobby is also one. People can spend much less on entertaining items (such as cable TV) to relax.