When I began playing poker around 2003, I had read 1 book. With no videos, no coaching and no HUDs I could beat the micros. Now take a complete newbie with no experience at all playing at 0.01$/0.02$. He won't last long as even the lowest limits are infested with regs.
Besides, the rakeback in those days was awesome. One site I was playing, with easy Bonus, 30% Rakeback and site points, came close to 100% rakeback even at low volume.
These days, Bonuses are harder to clear. And freerolls
money is not as easy as it was back then.
Sites need to bring some recreational players or their profits will go into a downward spiral.