Market is hot(ish) now though, or was a few years ago. A friends dad died and he had trains. We helped ebay all of it. Owned a toy store or something, lots of rare stuff (like window displays). We even had a guy buy one of the rare posters, return it for questionable reasons, and then start selling counterfeits. Even so, the grand total wasn't a ton of money, more within the "worth doing" category.
So a collection of model steam trains might lose value, as fewer people have remember them in use, but the hobby can continue with high-speed electric trains etc.
But I think it’s a combination of “toy trains” being pushed out of the “hobby” so fewer new kids are introduced to it (the Lego Train clubs get some heat and hate and generally are disregarded by the “real model trains” for example) and that the “train obsession” has other ways to discharge these days.
Many people who would have built elaborate basement models instead spend their time perfecting Factorio or Minecraft worlds (any sufficiently advanced sandbox game becomes a train simulator).