To be fair, figure for figure, you're either getting a decent number of models or solid quality for your money (though I definitely think that their single figures are quite overpriced, no matter the quality of the sculpts). The problem, to me, is the sheer number of models that you need to run a game - even at the going rate of ~$5 a model (+$20 for the HQ, [edit] +$40 for the faction rulebook), you're looking at a bare minimum of $160(IIRC, $240 if you need the rulebook to go with it) to get a starting force going in any of their games - which is way too high an entry point to bring in new blood to their games). Ideally, you'd want something at the $30-$50 mark for a single player, or $80-$100 for 2 players to get in and learn the game (and yes, I am aware of the $100 two player packs - that's one of the few things that they've done that I like).
So... I'm not really surprised that they're struggling right now. There's really no good, cheap way to try the game out; there's no quick version of the game; heck, even staying a customer of the core game gets to be a tread due to the number of times they update and rerelease the core and faction books. It's just a grind to keep up in any reasonable way - and the elitist attitude of some of the remaining fans certainly doesn't help (I actually got shut down when comparing Games Workshop miniatures to Reaper - the latter being thoroughly dismissed as a legitimate competitor by the store owner and the customers in the store - despite equitable quality and significantly lower prices on the single miniatures).
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