Mike's theory is that poetry is not popular today because it's not being written correctly.
Poetry World is pretty big, diverse, complex. There are many many different audiences, kinds of publication, methods of teaching & popularizing. There's a strong stream(s) of hermeticism and art pour l'art, the ends & means of which have, apparently, little to do with those of more accessible styles. But that's only one facet of a very large & globby crystal.
I will explain more about Poetry and World later. Must go for coffee immediately.