I don't see the same issue. Lots of people are still playing hard for the gear. Everyone wants the helmet so it will be very active this weekend.
Of course people will fall off after a while, it happens with any game. It's a downhill slope until the next DLC.
The only change I can see them making towards trials is matching lighthouse people together to slightly lower the difficulty.
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I see your point but I think the fall off has been much greater than they anticipated. Trials is not my cup of tea. But I understand why some line it. But the Elimination mode was a suspicious, "don't get frustrated, give it another try, here is a practice mode" move on Bungles part. They watch the data and numbers closely.