This is a really interesting thread - let me give you my own background into minature-dom (is that a word? can it be?)
I stumbled onto Space Hulk board game which was sold in a local toy shop. In it there was a little leaflet about all the GW range.
That led me to WHFB, then onto Bloodbowl, Necromunda and GorkaMorka (should have been obvious to me by then that I was a fan of skirmish games...although I loved the 'growing' nature of those games).
And that was it for me - I was never aware of any other companies, or gaming systems out there, so I loyally bought my White Dwarf, pretty much every single army book ever released, some models, but never actually played a game - guess I'm more of a collector then gamer.
Anyway that brief background leads me onto a few points:
1) Market leaders can and are 'overthrown' without necessarily collapsing. In the UK, look at the supermarkets - Sainsbury used to be the market leader by miles, now it can only just make out the dust thrown up by the behemoth that is Tesco as it races off into the distance. Is this likely to happen to GW? Not in the near future, but I bet they thought the Roman empire (or British, Persian etc) would fall either.
2) Wyrd books. This is where I have an issue with Wyrd. I have the little rules manual - fantastic value and all the rules in one place - however, where's the fluff? I shouldn't have to buy the preceding two books just to work out what is going on and who these models are. Imagine if GW said "right, here's version 8 of WHFB, but you really need to buy all previous 7 versions too".
Personally, they should release the fluff seperately (even for free?) as it doesn't change, it gets continued. So unlike GW where the fluff does sometimes get re-written, if I understand Malifaux correctly, the story is continued through the books.
3) Website - no offence guys but the website is awful (the forum however is great). Why no brief look at the armies and masters here? Why no 'stores locator'? If people have somehow stumbled onto this website, reward them by actually giving them some info. Maybe some videos so you can see Malifaux in action - some of the Youtube ones are fine, but some professionally shot and thought out vids would be great