I wouldn't say the vintage car/truck market is dying. It may at some point become more of a niche, but all one has to do is look at all of the shows and drags across the country to know the square body market is alive and well. That and the prices for old iron.
With the prices and regulations and difficulty servicing newer vehicles continuing to increase, the demand for the old stuff is not going away anytime soon.
China could have bought the tooling for domestic parts like cams, bearings, pistons, rings, etc but they chose to close their right eye with their thumb out front and design new machinery that may or may not create something close to the original. The results are mostly piss poor.
I am not exaggerating when I recall my days as a boy hanging out in many, many backyards and garages while the local motor head was putting together small and big block Chevy engines with kits from the local supplier. They did not have to spec every piece; they pulled them from the boxes, cleaned them up, eyeballed them, maybe pulled a feeler gauge out and went at it. I'll also say that the number of cam, bearing, ring, valve failures then vs now is like night and day. Youtube is full of videos exposing garbage aluminum Chinese Vortec heads.
Those who did not work on pre 2000 drivetrains at their inception really won't get how really, really bad replacement parts are today.