Agreed that the PBT was the highest pinnacle men's pro pool ever reached, at one time consisting of 16 different $100,000 added events. As you say, it was a sad day when it died.
Still, the statement that "the smart ones bailed out" is a little absurd and a bit disrespectful of those who tried to stay the course. Is Jim Rempe, who had been a pro for over twenty five years when the PBT went belly-up, to be viewed as having faced the same decision as the young players in their primes (Archer, Strickland, Morris, Ellin, Wetch, etc.) and those just coming in to their own (for example, Michael Coltrain).
The younger players, for the most part, stayed the course. Does this mean they weren't among the smart ones? I think not. It just means that they had more hopes going forward than Jim Rempe, Nick Varner, or Buddy Hall, all of them with at least twenty years of pro competition under their belts when the PBT folded, and all having Hall of Fame credentials by that point in time.