It's definitely crumbling. Product on the field has degraded badly with the refs deciding games, over the top commercials, and too many damn rules/flags/stoppages. Players embarrassing the league and otherwise poorly representing the image the league rode to prominence.
Keep saying it too. Already follow NHL as my favorite sport now, and attend far more games at less cost with way more fun for my hard earned dollar. I can actually watch a game in the NHL without stoppage, stoppage, stoppage, stoppage filled with commercials, stupidity and refs bumbling around. It's a fast game with action, big hits, and excitement.
The owners' greed will definitely be their undoing, and ten to fifteen years down the road this will be a flag football type game that more closely resembles basketball. And at that point I won't be tuning in.