There’s probably some truth to that. Interestingly, hockey participation is growing in the U.S. and shrinking in Canada for the same reasons related to demographics and socioeconomics. The sport is migrating back to its 19th century roots as a sport for wealthy prep school elites.
It’s probably related to Canada’s ascendency in soccer. It seems that’s the sport for the liberals there now.
I recall reading a while back that NHL hockey had a higher proportion of female fans than the other American sports, for reasons no one could figure.