I skimmed the thread but I didn't see this mentioned before: That 20% stat is complete hockus pockus. Tom Kirby has stated in previous documents that Games Workshop does 0 market research. A grand total of nill. They have absolutely no clue what their audience likes, wants, or desires. I'm far too tired from class to link to this, but look for it and you will find it.
Someone in the hobby for modeling will happily buy one cool tank for his collection, maybe two. A gamer will happily buy six at once if the rules are good and he wants six in his army on the table.
Gamers keep them afloat, and with each edition of the rules the armies get crazier and bigger, as do the models. They seem hellbent on making it impossible to play with smaller scale models. It's go big, or go home. This approach prices more and more people out of the hobby, as not everyone can afford the cold war style arms race with the other people in the community. I'm a student, and I love playing Warhammer 40K. It is what gets me to buy, build, and paint the models. I used to love playing at my local Games Workshop here in Ottawa, but as new rules came out, I was priced out. I simply can't afford to go into the store to play random pick up games because I simply cannot fight the big expensive models with my own armies. On top of that, the rules started to go down hill. They become increasingly unbalanced with each release, and me and my wallet simply can't keep up. I can easily coincide my decrease in time spent at the local GW with the new company policies and the new rules. And as I play less and less, I spend less and less. I haven't bought a model in forever, and lately I don't even make the effort to get the newest army books for the armies that I play.
I'll finish by saying that I always wanted to start playing fantasy, but one look at the Age of Sigmar rules stifled that feeling completely. That's easily $1K and more they have lost in sales. The AoS rules are abysmal - no one in their right mind would play it. It really does look like it's designed for frat boys, to be played with beer and pretzels. Perhaps what bothers me the most is that there is no reason why AoS couldn't have existed beside WH Fantasy. They got rid of WH Fantasy for really no reason. And with it, they completely alienated every fantasy player I know in my city, who can now no longer play in the local store.
Edit: I forgot to mention that while I am interested in Total War: Warhammer, you have to keep in mind that when they released AoS they completely axed Warhammer Fantasy, which it is based on.