Steakhouses and steak in general is still incredibly popular for dining these days even at non traditional places. Always has and always will be. A lot of restaurants aren't doing great these days as it's death by a thousand cuts so to speak but with steak you know what you are getting.
A lot of places are just a total rip off these days from any sort basic value perspective, trying to justify menu prices on non traditional metrics.
Although I have been a few times to Notable, their primary thing was chicken and how much can you realistically charge for chicken on an on going basis before people start to wonder what they are paying for?
A 10 oz steak is a 10 oz steak where a lot of places will really skimp on protein (ie food cost) and try to make it up with other low cost items.
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