I like this question.
Two thoughts come to mind;
1. Best Bowie in C&H is a very time consuming 'event' that more than one volunteer has to commit to, and it happens over a period of time. For the winner, there isn't much to gain other than bragging rights.
-corollary; Instagram etc requires almost zero effort and each post is just a scroll away
2. Yes, bowies have fallen out of favour somewhat. Collectors who love them, love them. But my sense is that there are more collectors now than ever before- many of them new- who prefer folding knives so that's what they collect.
In general, the quality and quantity of both content and involvement in Bladeforums is greatly diminished from past days. I will always be a cheerleader for the forum, but it's understandable that people flock to other platforms which are easier to be 'involved' in, I personally see it more as voyeurism than involvement but that's totally subjective. Events like BB might encourage a greater amount and higher quality of involvement in the forum generally, but that's speculation.
As a long time past volunteer for this event, I found it to be quite enjoyable, but for various reasons I had to bow out. However, I would do it again I think. Because the winner doesn't really get anything, I'd like for the bragging rights to be spread around a little more. For example, perhaps adding categories, ie; best fighting bowie, best utility bowie, best art bowie etc.