They would not have gone through the time and expense of the format change if they did not have a plan or think it Had some potential. Clearly they did this because there was a vision to Improve the site and bring it into the present. Perhaps along the way budget issues popped up so they abandoned the plan, but the hard work and majority of expense had been done. It's not expensive to maintain a website.
I suspect what was more likely the reason for the demise was that in monitoring the site content during and post format change they saw that 50 percent of the posts were items listed for sale and the majority of the others were bitching , arguing and pissing contests , often unrelated to golf. Hard ton get sponsors who want to be attached to that and Who would want to maintain a site with only that.? In that regard , its my opinion that this is the more likely reason and if so those members who led the site down that path of angst are responsible for the site shutting down.