It will. And they clearly need to adapt.
And as I said the FACT that it’s happening so frequently lately IS throwing the racing world into disarray. This has been a growing issue for over a decade. The Triple Crown is apparently not as exciting for the horse owners as it is for network television. That’s a solid working definition of disarray. Imagine if you got to the end of the NFL season and a bunch of owners said “eh, we don’t really want to put our teams in the playoffs, too much hassle”. That’s where horse racing is finding itself.
Well, since I care as much about football and I do horse racing it doesn’t matter much to me.
You’ve got it right though. If horse owners don’t care or more likely can’t afford to compete why bother?