They did really well with people returning to the hobby, especially during the pandemic.

They got me to some extent. I bought one of the largest models just the day before the first lockdown.

I never completed it, but since then I have played the smaller (Monopoly board size) game, Warcry.

The friends I discovered were playing the full-size games spend hundreds every week or two.

It's crazy how much money people end up spending on these kinds of things. A hundred here, a hundred there, before you know it you've spent tens of thousands, maybe even hundreds of thousands. Most probably don't even realize they're spending that much.

Adults with disposable incomes...who also have kids of warhammerable age.

I had the same thought. In high school around the turn of the millenium the warhammerers either got a few injections per year to their collections, as presents from relatives or from saved up allowances, unless they made a small business out of painting and selling figures.

Ten-fifteen years later they've started making big monies compared to a kid, and nostalgia is a powerful marketing tool.

Once the iPad generations take over I suspect Games Workshop will have it tougher.