That huge leap you just took doesn't hold up logically. There are all sorts of reasons why CX's share of HKG traffic may have dropped, e.g., as alluded to upthread, destinations to which the only choice used to be a CX connection but which now may have direct service. It doesn't mean that passengers are avoiding CX. It means that, for one or more of numerous reasons, pax are choosing other carriers. Sort of like the question of whether Obama won the last election or Romney lost it. (IMO, Romney lost it.)

This is a perfect example of how you can make statistics say whatever you want them to say.