I think I would agree with the notion that some folks are just looking for something new to do. No matter what kind of event you put on, it'd probably have a shelf life of a few years unless it's designed to be so epic that it will continually draw new participants from all over. But that's a tough one to pull off because part of what makes them so lasting are things like location. The region around NJ has some pretty great riding, but it'd be almost impossible to stage a single day race like the SM100 there - unless you made it multiple laps and then it's not really the same feel. And a stage race would be tough if not impossible in Jersey. So beyond that, what do you do to keep it fresh and draw folks from far away? Better minds than mine would have to answer that. I like what you guys do at Stewart, though. I'm sorry to hear this will likely be the last time it happens because I won't be there this year, and it's the first time I won't be lining up out of all the ones you've done there.
I guess the question I would have is 'what's the goal of putting on the event?' If it's to raise funds for the team/club, then I'm sure you guys will figure out a way to put on some event each year, whether it's the same one year after year or something different every year. If it's to raise awareness of the riding opportunities in the state (which I doubt because, ya know, your flagship MTB race is not actually in the state) then you could put on an event that moves from one NJ venue to another each year - kind of like the group rides you do now, only pick one of those and make it a race each year. And if the reason is simply to get folks riding, well, you don't need a race for that. Just look at the online contests you're already doing between BIYF and the July Challenge that
@jdog puts on each year through the site. You could expand those to beyond the site itself via social media if you wanted (although that could also bring the trolls which would suck -- because, FYI, there are apparently a lot of whiners on social media.) Anyway, I'm sure there are plenty of other ideas you could come up with, too. Ultimately, I think racing as a form of MTB participation will always ebb and flow. I remember the days when the MASS wasn't nearly so organized, but the fields were two or three times larger than they are now. And I also remember showing up to races where I was one of ten people to line up, and a year later that number of people had jumped by a factor of ten (e.g., Cyclemania.) One thing I would want to make sure you all know, though, is that you guys are really good at putting on races, and I've been racing a long time and I've raced pretty much all over the country at one time or another, so I can say with confidence that's not always something you can assume from promoters of any event. So selfishly, I hope you continue to do so in some form or another.
Good luck this weekend!