You’re over complicating this. Yes there are changing demographics and other variables to consider, but it’s really not hard to understand that ratings go down when big name players aren’t in contention. I’m pretty sure last years playoffs ratings were down a whole lot compared to 2018, and that was the Lebron effect. The NBA focuses too much on certain players instead of showing off other insane players around the league. It’s not only advertisement, as it is most definitely also the number of games played. But that conversation is unrealistic, the NBA will never eliminate most of their regular season games, which means that people are less likely to watch when there are 80+ games throughout the year. The main issue is to do with advertisement, how can you tell me otherwise when all these major sports sites do is talk about big name teams like the Lakers and Clippers.