Quoted from Deez:

I run location pinball and while it doesn't really make money there is interest in it. What I'm seeing is the old guard operators are being replaced by small time hobby operators that do it for the love over the dollar. One of the issues is the players are cheap AF and demand to play the newest pins for 50 cents a play and scoff at a buck. Even at a buck the ROI is slim. The saving grace at the moment is that the price of new machines is so astronomical that you can sell a piece of heavily used equipment for a decent sum still and end up with a slight profit.
Traditional operators tend not to even bother with it.
I have some players in their mid 20's to late 30's, but it's still a niche and most people don't care. I think pinball will continue on but an increase in interest is just an illusion created by 40 and 50 year old men with money driving the prices up trying to put a piece of their youth in the basement gameroom. Pinball won't die but will be curated by those of us with an old soul.