No, I'm not doubting you, but to determine on a week by week basis like that whether or not to conduct services like that... wow. That would be so, um, dispiriting!
It's one thing to cut back, as we did over the months when we were without a priest, the twice-monthly 8 AM; but even when our deacon was absent (and no supply priest was available) we held Morning Prayer at 10 AM. But this church sounds like it's not long until the For Sale sign goes up...
I think you're right.
The church's main exposure to the community was that it ran a small private elementary and middle school on the adjacent property. A couple of years ago it "sold" the school to another secular private high school that wanted a "feeder" school. That school has now constructed a new campus for the elementary and middle school students.
The school was really the only "mission" of the church. As a result, the church and its school now basically sit empty. There's nothing to attract people to worship there.