Alot of the problem is that the StudioV required A LOT of time from someone to be devoted enough to keeping it all running smoothly, and timely. The contests, the galleries, and keeping people interested in it. Coming up with new features, as well as maintaining the old ones.
Without that, it didn't take long for it to quiet down. After Mitch & I stopped running things in here, Cantflywontfly and Patchz did an admirable job, but there seems to have been another factor that contributed to it's decline. Screenshot posting in general is WAY down from it's glory days.
I guess there are only so many ways you can take a shot of an airplane.