Does that Eddie Van Halen/Steve Vai type crap have a genre name? The only people I've ever known listen to it are people who play guitar, which doesn't say much for its appeal beyond people who want to show off their technical abilities.
That's it exactly. You nailed it. Back in the 80s regular folk liked that music. Nowadays only guitarists like that music, and they don't really like the music, they just like the guitar tracks.