You all have some solid points.

But in reality it comes down to one thing.
Melges sailors have owners that have big big bucks and are committed to their campaign without even thinking of the costs. I've been involved with several of these campaigns (sailing on a few and selling stuff to many more) and it blows me away.

The Melges 20 has been considered by some to be a failure especially compared to what the J/70 is doing now. Sure they have a couple well attended Melges 20 regattas, but not many and not like the J/70 numbers.