The reason poetry is losing prominence in our lives is due to the Information Age.
Poetry left our lives just as information became more easily accessible.
When we read prose, we are reading in an 'information-retaining' style. Each word that follows, one after the other, we take in to materialise a story or a piece of information in our minds.
If we pay proper attention, it is unnecessary to go back and reread to grasp the narrative.
We are used to quick information now--we want it quickly, efficiently, and as concentrated as possible.
Poetry, the reading and comprehension of it, requires a different reading style.
It requires constant rereadings, analysis of techniques, such as enjambment, caesure, alliteration, assonance, rhyme, meter, oxymoron, repetition, rhythm, etc.
While these are all found in prose works, it is still designed in such a way that it does not need rereading to grasp it.
Take a poem that may only be a couple of stanzas in length. It is not much, if I read it like prose it would take 15 seconds.
But if I read it like that, I will not grasp the full potential of the poem. I will have a surface level understanding of its themes and techniques.
We are all so used to reading quick pieces of information, that distinguishing between a poem, and a short piece of prose, is virtually incomprehensible for most people, including a lot of people here.