Bike industry crisis/downturn/trouble - I feel out of the loop or maybe just ignorant, can someone help me understand the general story? What’s Happening and why?

I see often posts about the bike industry downturn and trouble but I’m not sure of what people are talking about…

I ride a bike and follow the racing but if I ever look online at new bikes I see canyons and cannondales and expansive prices, new wahoos for €600 and PNS jerseys for €400 (exaggerated).

But I also see that Rapha hasn’t made a profit in years and just today that Passioni and Brompton are in trouble?

Thanks in advance