I agree with the OP. Vegas is Vegas and it always be one of a kind. but now it's more of a status symbol than anything else. Many will try to replicate Vegas, but they won't be able to mirror the overall vibe and social status that Las Vegas provides.
With the airlines, hotels/casinos, now nickle and diming their customers with many new added fees including but not limited to carry-on baggage fees, resort fees, extra fees for double beds, and what not, it's no longer a bargain. The cost of dining has gone up a lot as well. In some cases, 60% over the last several years.
Sure, the weather is great for the most part, but it's like. "been there, done that". There is nothing special about Las Vegas anymore that will want the the average middle aged person to return maybe once or twice depending on what they were able to see or do the first time.
It's actually quite sad though. We have gone at least once a year, sometimes more in the last 5 years. Unless there is a special occasion why we must go to Vegas, we're done with Vegas altogether.