As we all should know, the hobby of model trains has been on the downward slope for many years. The "peak", I think would have been about 1960.
The current demographics of the USA and Canada are not favorable- (a) where many of us Boomers built models as a main hobby, that is not true today- most under about 40 years of age have not built models of any type. (b) with the move of our population south and west, far fewer homes have basements.
BUT- the magic can still be there. I bought my three grandchildren- girls 11 and 8, and a boy 1-3/4, in two separate son's families, Lionel Lionchief sets. They LOVE 'em!!! Even the 18 month old can run the trains (mostly at full speed) using the Lionchief remote, and laughs the whole time. The trains run great, were only about $250, and at least one son is now talking about a layout.
Kids are the way to build this hobby- hence the model train manufacturer's dedication to Bluetooth and remotes. Find a way to reach the young, and the future can be promising for the hobby we all love.