My gut feeling tells me that the kind of event with the kind of bands they were putting on just wasnât/isnât financially viable. Even though they were clearly mismanaged, I think the business model itself was flawed and trying to replicate it wonât bring much joy (see: Safe as Milk).
Think Le Guess Who is the closest thing there is to an ATP replacement, in terms of bands, time of year etc., that is actually successful and well run.