Its not as big as it once was, however it is still bigger than any other race.
My first Indy was in 1982. I had been to other national events but even at 7 yrs old, walking in I just knew this was so much more. Over the years the special funny car and pro stock races have either moved or disappeared, field sizes have gone down...but yes its still Indy.
Now part of that is due to people who are steeped in the History of it. To the newbie in the stands its just " oh the loud cars are in town this weekend lets go". They do not realize that this event is akin to Daytona or the Indy 500, its just a race to them.
However to the group of addicts that I am proud to have hung out with this weekend, it is our yearly pilgramage, the journey to celebrate the past, respect the history and hope for the future of our sport. It its people like that which will still make Indy a special event