Thank Nationwide Insurance Co.

They decided, based upon statistics they kept, that they weren't on your side when it came to HiPo cars. Too many wrecks, too many tickets, too many lawsuits.

Life comes at you fast.

The other insurance companies all followed soon after.
High risk=low profits. The price of insurance was often as much or more than the monthly payment, and unless you were in the higher income brackets, the reality of economics took first position.
The baby boomers who bought these cars also got into the family mode, as attested to many times by members of this site who retired their rides.
The van craze of the 70's also contributed, because trucks had different emission rules that were much easier to skirt.

You could still tweek a truck with a small block, and there were other things you could do with a van...

I am sure there were other things, but I forget what they were, or was, or whatever.