The rise of the index C&V era. it will take a while. Note that Shimano SIS arrived in 1984. 39 years ago.
There are many who no nothing else.
The bike market in the USA is retreating this year, in a few years it will be regarded that the pandemic "boom" pulled sales forward.
It will take a while to reach market equilibrium.
My guess the business for Waterford had flow but not a long order book.
An end of an era. Maybe Mr. Schwinn will write the Waterford history after retirement.