The problem is that everyone doing demoscene stuff got jobs and is getting paid for it now. Look at crysis, etc. No one cares about programming dick waving contests anymore, it's all about who can get a job at Microsoft. If it doesn't benefit your resume, no one cares for it. I personally became a computer science major because I wanted to write demos. After about four years is when I really started to get it as far as graphics goes and even though now I have an idea how effects are done, I feel like there's still so much to learn to keep up with what guys in these demo groups like farbrausch and fairlight do. The learning curve for doing this kind of stuff is pretty high. Not only do you have to know programming, but some kind of library like DirectX or OpenGL, shader languages and all the linear algebra behind the effects.