Why is EU so weak rn?

I remember 6 years ago EU was a respected powerhouse. They had won MSI and gotten to World Finals, with them putting up respectable fights against the best of the best (Misfits my beloved). Now they couldn't even make it to Knockout at worlds last year and are currently getting absolutely demolished at First Stand.

I was out of the competitive loop for a number of years, so did something happen while I was tuned out?