Kpop as a whole and as a business that makes money peaked in 2013. Public interest in South Korea for kpop has declined every year since.
Just because BTS and BP are still soaring high doesn't mean the entire industry is also. In fact if it wasn't for the West taking an interest in kpop then the industry probably wouldn't be here today cause South Korea just doesn't care anymore.
It's like what happened in Hollywood pre pandemic. It was collapsing also despite Marvel movies making billions of dollars. Disney was pretty much the only company making a profit.
This might read like another "white people had to save the day yet again" rant but it's TRUE.
As soon as BTS and BP disband that's it for kpop. Nothing lasts forever.
And please don't come in here trying to say Aespa is gonna carry the torch and be a global phenomenon.