is that a bubble bursting Keith? or just a realignment of the industry? Passion for high quality beer is what made the craft beer movement happen. As you say, it seems like there are a lot of people with a lot of money (apparently to waste) making mediocre to bad beer and hoping to get rich.
If the market realigns and becomes more competitive it could happen two different ways.
The 'Craft' aspect could be subordinated to the business aspect. If this happens the big macros are going to win back some market share because they are the 800 lb gorillas and do 'business' with way more momentum than any true craft brewers. Even Sierra Nevada and Boston Beer Company can't compete in 'business' with ABI. If this does happen I think that before long a new 'Craft' movement will arise before too long. Craft beer drinkers, like fine wine drinkers, will seek out and support the small independent producer who is focused more on quality than on profits.
Or the 'Craft' aspect could remain the driving force of the sector and those people getting into something they don't understand and don't do well will fall by the wayside eventually.