Is this the decline of craft beer in New Zealand?

In recent months we have seen a handful of craft breweries go in to liquidation. Speculation around reasons for this happening has come through the media and people supposedly in the know.
But is this really any surprise?
In New Zealand two years ago their is over 300 registered breweries, which is a huge number per head of population. Granted not all are running brew pubs and some may have even fallen by the wayside already unbeknown to us.
If we look back at our not so distant past, the wine industry here went through a similar faze with vineyard closing and being bought out by bigger companies.
In more recent years we have seen people working from home, less people out and about and choosing home as their place to eat and drink with friends and family. Rising costs of living and less disposable income.
The introduction of zero alcohol beer and a younger generation seemly not having the same appetite as their parents do for beer gives a good argument towards more craft beer companies slowly closing their doors.

Personally I just think its all part of things balancing themselves out. Someone once said to me, what is your value proposition? Why should people come and spend their money at your establishment, what sets you apart from all the others.
Maybe this is part of the problem, maybe there is to much of the same and not enough people to go around, or has the excitement of a new brewery delivering you a somewhat similar product as everyone else become mundane.