The 80s were not all bad! Also a time when "high end" audio really picked up.
I suspect a lot of the "bigger is better" people became "better is better" people, and the same money as a japanese monster could buy better sounding and more flexible affordable separates by the likes of carver, adcom, hafler, rotel, luxman, etc.
I also remember a certain amount of prejudice against receivers developed, like that nobody serious about audio would own one (I know I sure never have since I had any money at all)
A receiver is like a hamburger, it's only worth buying if it's affordable... cross a certain line and a steak starts making a lot more sense.