What they need is better writing. I was a big fan of soaps (though only the ABC ones) over 10 years ago. I loved the sense of community, of family, seeing the interaction if three generations of those families. My favorite was GH. But they lost me when it became "the Sonny Show", they got rid of the veterans and lost the feeling of "the town"
I haven't watched any soap for years, but it saddens me. I think their only hope is to go back of the old format. It worked, so why they changed it? Moving focus from families to the "young and hip" has backfired big time
Women had been on the workforce for many years before the decline in viewership, so I don't think that's the reason for the demise of so many shows.
The lack of quality it's what's killing the genre, IMO