I would have to go with saturation. For Affiliate programs these days anyone can start a sponsor program with just half the cost say compared to just 4 years ago. So when you get more programs that means more pages out there which means more of the traffic is getting spread thin. These company's you see doing these promos that almost sound crazy are probably taking a loss to attract the traffic whales.
Same thing as above a plies to affiliates too. More pages out there less of a chance of affiliate getting a sales.
Also you have programs that link things incorrectly purposely or not, there all ways is a fear of shaving and spyware and adware. Not to forget also these guys who come thru and rip whole members areas. Fill the forums with membership area's content. Shit why pay for it when you get it for free. Then you got sponsors who accept spam traffic, They also accept adward traffic, they allow these forums who rips members site to send traffic to there program as well .These might not add up to much but over time you add them together in the long run its killing us
its almost to the point were you got to get down in the gutters with the sleaze balls to be on a level playing field
