The only people for whom Nike is relevant are sneakerheads. The brand is so weak now that kids are not demanding Nike shoes like they did in the past. There's so many other options that frankly appeal more to younger shoppers than Nike's pretty boring offerings.
This is the truth and there isn't much we can do to change it. Times have changed and we haven't kept up. Nike's best days are in the past and we all need to accept it.