The problem with being the Internet Portal for Old People is that old people have a bad habit of dying. So unless you're also the Internet Portal for Middle-Aged People and the Internet Portal for Young People, when the current crop of old people bites the dust, they get replaced by a new cohort who bring along whatever habits they developed while you were ignoring them.
But this would never impress investors who are looking for insane returns. As a result, they're taking everyone down with them.