There were several factors. One was the rise of digital media, which took away a lot of readers. Another was the economic downturn, which affected sales.
The comic book industry almost got destroyed mainly because of intense competition from other forms of entertainment like video games and streaming services. Also, changes in consumer preferences and high production costs played a role.
The comic book industry nearly faced its downfall due to a combination of reasons. The decline in physical bookstores and limited distribution channels were big issues. Additionally, a lack of fresh and compelling storylines failed to attract new readers.