You (TheFindus) have stuck with D&D for 30 years, through multiple editions - but a significant portion of players don't (possibly a majority of players). A significant portion of customers are lost with each new edition - an amount when combining all previous edition players, I believe, is a larger group than players of the current edition. As history has shown, this is a situation that will only increase with each subsequent edition. So, more customers have been left behind than new customers have been gained...and history shows that a significant portion of WotC's new customers will not switch when a new edition comes out. When 5E comes out, as is eventually inevitable, many of the current customers will fall away to continue with 4E - unless WotC maintains DDI support for 4E! The same thing is true for all other previous editions. Remember, 4E will likely be a "previous" edition someday also.
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I would not say that during the 3.x times of DnD, too many people played the older versions of DnD compared to the number of people that played 3.x. I would guess that the number of DnD players not playing 3.x at that time was, well, insignificant revenuewise.
This changed with 3.x because of the OGL. These rules are free, creating competition for a new version of DnD. So competitors could still make a fortune with a product that is DnD without WotC being able to do anything about it.
Now, I do not think that anybody thought a lot about a new, fourth edition when the OGL was invented. But for 4E, WotC shot themselves in the knee with this.
And I see that as one of the 3 major reasons why a lot of people are not playing 4E now: they have 3.x to go to with full product support. If that support had stopped, more people would play 4E. Why buy 4E books if you have a shelf full of 3.x books that you can use? At least that was one of the 3 major reasons people said they did not turn to 4E. That, and of course, the design paradigm of 4E. And the fact that WotC sucked at digital content (promises, but not so much of a delivery).
Why should Paizo make 4E products if they can scavenge on the OGL? If you ask me, WotC should have put a 4 year OGL-licsence-running out-phase into the OGL to stop the competition. Cancel the liscence in 2008, be done completely with 3.x in 2012. I was not surprised at all to see that they did not offer a new OGL-type liscence for 4E. Because if 5E comes out, the same stuff would happen again. It is bad for WotC 4E business.
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