A good theory, prof. AOL could be losing members for a lot of reasons:
Americans are gullible when it comes to technology (Why do you think the MX400 sold so well?

) -- the advent of cheaper net-zero-like solutions are probably peeling people away.
Though Americans are gullible, I'd like to think the general level of technology is increasing as more advanced computers penetrate the common market -- the advent of crackerjack broadband is probably also peeling people away.
Word of mouth? AOL has a ****ty reputation when it comes to word of mouth. People always have their person who they go to for advice because "They know so much about computers!" -- Those people usually hate AOL, and tell their more ignorant friends to run away from it.
And come on, AOL just sux lololool.