There is no revival in comparison to the fifties, which has been shown not to have been a revival at all..... moves to modernise the genre(if it is a genre)….have been totally unsuccessful, turning off "the people" in droves. The exhibition of the young people who perform under the banner of folk nowadays is excruciatingly painful to me as a listener with a lifelong interest in traditional music. The majority of these performers seem to have no general appeal and what they perform has only a passing resemblance to the inclusive amateur traditional music of my childhood.   I'm afraid time have changed right enough and modern society neither needs nor wants proper inclusivity.
On reflection traditional music differed greatly in different areas of the country and those variants did not transfer easily. Here in the West of Scotland traditional music was almost exclusively Gaelic, usually accompanied by jigs reels and waltz...always the dancing, an integral part. I suppose most parts of Great Britain had there own brand of traditional music with Morris or Irish dancing as part of the process.    The decline is definitely down to societal change an is almost certainly terminal if society continues to lose its cohesion.