I play a variety of formats (mostly Vintage, 94, 95, and Middle School these days, with Modern and Legacy lagging far behind the past year or two). I enjoy playing different formats because they all offer different interactions, some overlap of cards used, and different things to enjoy. Rotating what you play and focus on helps ensure you never really tire of any of them, if you appreciate the differences between them. I have started organizing events based on this principle, and will continue to do so in the short term while it continues to interest me. Hopefully that mentality spreads.
- Vintage is basically at all time highs the past couple of years. Compared to other formats, it is always going to be viewed as on life support, because of the ever increasing cost of the cards. This will not change, even with so much new lifeblood being injected by MTGO and the VSL the past few years. Some people will shift in, while others age out or focus on family (or sell off collections for a final time to buy a house).
- Old School (and other similar retro formats) are growing in popularity for some of the same reasons that EDH/Commander is popular. Players don't have to pay attention to any real metagame to have fun, and they can jump in an out without much knowledge lost. The type of players that tend to gravitate towards these are also older, and enjoy their limited free time playing something they want to play, rather than just grind and compete. This is the difference between mature adults deriving enjoyment from beyond the more narrow scope of what the young grinder does.
There is almost zero chance of positive expected value (EV) of playing any type of Magic long term if you are focused on dollars and cashing checks. Opportunity cost/time, travel, food, and cards assure that it will always be costly beyond monetary return. The value comes in fun and enjoyment of playing, and casual formats translate to that much more directly than competitive formats for most people.