Alejandro Lococo won the WCOOP $1,050 Main Event: $343,242, 2,310 entries, title closed with Q4 offsuit and a river four. A CoinPoker ambassador lifting PokerStars' flagship is the headline. The number under it is the story.
Same event a year ago: 3,394 entries, $3.39M. The flagship mid-stakes Main lost a third of its field in twelve months. The $10,300 tier fell from 407 to 289. First prize: $487K then, $343K now.
A field that drops by a thousand doesn't lose regs. It loses the once-a-year punters, so the same buy-in now buys a tougher table. The money didn't vanish; it moved to softer lineups, and that is where the software goes too.