This IS what happened. It was never intended to be the plane for the average person, it was the method of travel for the wealthy who could afford it.

When the Concord crashed news stories fan about how they were having to cannibalize decommissioned planes for working parts and how the aginging fleet was requiring more and more maintenance just to keep it aloft. The stories made it seem like we ahould expect the Concord to crash more often than there were successful flights. There was even a documentary I remember that went into the fact that the tires only lasted a few landings because how hard the plane landed.

After the stories the very wealthy who were taking Concord flights started taking private or First Class regular flights instead so it was decommissioned.

People who are looking at taking a 45 minute flight for $5000 or a 3 hour private plane for (then) $12000 - $15000 didn't give a crap about price of fuel