For those of you that think downunder reflects what's happening in Australia... ignore him. The part of Australia he lives in, Perth WA, has only a small population. It does have very good wind however with a massive coastline with waves and flat water areas to satisfy all windsports.
However the kite and windsurf industry in WA is massively supported by an influx of visitors from the northern hemisphere escaping winter. They also sell up a lot of gear when they go home creating a thriving secondhand market of late model gear. They also inject a lot of talent into WA as many compete in the northern hemisphere season and came to WA to continue skill development be it foil course racing, windsurf related competition, freestyle or waves.
However COVID has ended this, and like all of Australia, hardly anyone is coming in or out any more. Fortunately we've been able to handle COVID reasonably well and can get out on the water in our respective wind sports most of the time.
In my area only a few have taken to wing foiling often with the purpose of pursuing a more pure surfing style as most are too old to be trying the freestyle moves shown on wing foil promotional videos. Others who have been kiting on TT or surfboards have taken up foiling and it's grown considerably. Light wind days are now populated by kite foilers loving 12 knots using small kites they only used a couple of times a year on their TT.
There are those on this forum, (and this thread), who have taken to using a snow kite with their foil and found a kind of religious epiphany in the experience
These Flysurfer Peak4 snow kites are cheaper, quick to set up and take down, instant power/depower, drift like helium and have fantastic control and manoeuvrability. I must admit to have succumbed to this fervour myself, and as I circle a windinger and follow them on my tiny foilboard straight downwind and avoid their crashes, I do say to myself I really am not getting the same exercise as the dinger who is vigorously flapping his wing while pumping his foilboard for 50m to get back on the foil.
Now I do have a stake in the game as I do sell kitesurf gear and wing foil gear as well. But sales of Peak4 kites have been so strong both from my own experience and globally over the past year that there has been a constant shortage of supply. Now some have gone to snow kiting and land kiting but it's foiling that has really been a big seller of these kites. (Check the size of the Peak4 thread in Foil Kites). When I've sold one Peak4 kite the buyer will often come back for another size or two and start using them almost exclusively. Just like some people have found their niche with wingdings others have found foiling with a Peak4 gives them the refreshing new buzz they need which is also very easy to use, no new skills really required.
Wing foiling won't overtake kitefoiling. In fact wingdingers coming from a surfing background who take up foiling with a wing will probably gravitate to getting a kite to improve their low wind foiling time. It's an easy transition and good used small kites aren't too expensive.
But there is a problem at least from my experience in Australia. There seems to be a lack of younger participants in windsports. Whether it be sailing catamarans or windsurfers, kitesurfing or wingfoiling. And don't give me the excuse that a given sport costs too much. There are sailing clubs here giving free use of their boats plus training. Good windsurfers given away free. Even good kite gear going for a song if you buy at the right time.
Wing foiling will have its time in the sun just like surf catamarans, windsurfing, kitesurfing and foiling of all types. Marketing departments need something new for the jaded consumer and wing foils will soon saturate the market as they're relatively simple to produce and have good profit margins. Then it's onto the next new thing ...