It is because every second person owns a faucet too many faucets are in market that is why the owner now are not earning that much from their faucets expect they are losing their money.
P.S It's not a good time to run a faucet.
Having many faucets does not mean competition it promotes faucet claimers to visit more sites. Also rotators promote the faucet claimers to claim every single one of them. The only problem is are you willing to invest big so that your faucet will have a good traffic.