I am going to say open source is killing reversing. There is hardly any products that do not have a legitimate open source competitor. There is no need to reverse if you have the source code and its free. Aside from this fact, it is definitely true that reversers are just getting bored. There is a lack of new protection schemes. How many times can you unpack TMD or Armadillo before you get bored? (About 5-ish?)