He makes a ton of great points here on how to revitalize and dying competitive scene, and this is something I've been feeling for a while but haven't really been able to articulate why.
Just commenting on a few of the things he raises, I think one of the bigger issues is beyond "bring back the GPs," which I 100% agree should happen. It more just doesn't feel like there's a visible ladder/path competitively like there was before. I remember as a kid it was clear, FNM -> PTQ -> PT -> Worlds (!), and I had a DCI rating that moved up and down and felt like it mattered. Maybe it's a marketing issue b/c I know there are local RCQs and other regional championship things but it just doesn't feel clear to me at all.
The elephant in the room is obviously Commander as well, and Mengucci addresses this one. WotC is Commander-first now and it's not even close, and I know this has been one of the main reasons local events just don't happen anymore like they used to. This plus Arena eating into any remaining competitive player time probably nuked local competitive scenes for good, and I think that has gone a long way in making everything "feel" worse now.
I guess the other elephant in the room is the price of everything. I cannot pay $500 for a Standard deck, full stop. When I was a kid it was way, way more approachable, and we also had Block Constructed which I loved and was even more approachable. Not just price too but the shear volume of sets now just makes it feel overwhelming. It's like 20 sets now for Standard, before it was just a known 7 sets (3 from a block each year and core set).
That's kind of how it's felt for me I guess, I'm not sure what if anything would correct it now or what is driving it the most but I know for a fact that I just feel way different about playing competitive magic now, even though I watch it every day and play for fun still.