I can certainly see the reasoning behind that explanation. It is a shame, but probably true.
One theory I had was that the middle class still buys yachts, but there is such a good market in used boats that there is little to motivate one towards a new, small boat.
I was looking at a 200K Benetau a few weeks ago at a boat show, and the whole time I was thinking to myself that there was no way it cost the builder more than 50K to build, but if the market exists that is willing to pay, it makes more sense to build 10, 50K-200K boats a year that you can be pretty sure to sell than it does to make 200, 50K boats that cost you 25K to make when you run the serious risk of an economic change hitting the chance you will sell all of them.
There is something to be said for focused production.