I think the source of the rumour is about discussions and concerns last year. My company has been an air show patron for years and have always done hospitality at it. It is run by a mix of local civil servants, people from the hospitality trade (hotels etc) and assorted other local “names”.
When it was known that the red arrows were not going to attend this year there was genuine concern that it wouldn’t still be a draw. No arrows, no Vulcan, too many aircraft going tech recently..... I think there was a period when the option of not having it was seriously being considered. We noticed it going very quiet on the PR front and the local hotels weren’t chasing us for bookings. Almost like they had no confidence themselves. But recently it perked up a bit and looks to be carrying on.
I do think it needs a revamp though. I work with 30 plane geeks and even they found last year a bit of a drag (despite the free booze!). There aren’t enough “wow” moments and too long between displays that are too similar. I think if they can’t guarantee loud fast jets then they should mix in some civilian aircraft. There’s nothing weirder than seeing and A380 or B737 doing a low and slow with full flaps and gear down.
I do think if they keep repeating the same old stuff it will get stale. I’m not that bothered about it this year at all.