Good question; been wondering myself.
Take my relatives, for example. Other than some distant cousins that I don't even really know, I only have five relatives. Two (50ish) are dumb as bricks. The other three (two mid-60's, one upper 80's) have normal intelligence. One of them has a high IQ and is the smartest person I know; he's the only person that I can discuss some deep subject with (math, physics, deep grammatical concept, philosophy, etc.) and feel that he will understand.
All three used to be level-headed and reasonable and honest. All three would gripe about things in JW Land and admit issues. I once mentioned to the smart one the issue of who gets the insurance checks when the org does disaster relief. This was when I wasn't fully awake and first started smelling something funky and thinking about the issue myself. When I mentioned it to him, he looked at the ground and got a smile on his face. In other words, he instantly got my point, but had never thought about it. He told me he was going to think about it or look into it, but he never mentioned it again. But my point is that at least he understood the question and admitted it was a good one.
He also used to be really analytical. He would make notes in margins (Bible and JW pubs) of things that didn't make sense and/or seemed wrong, but he no longer does such as that and things have changed with all of them. They are no longer open to discussion. They no longer gripe. They are really defensive. It's as if they've buried their heads in the sand. I'm thinking they've got to know something's wrong, but they just can't bring themselves to visit the possibility that they've wasted their lives and made all those sacrifices and done all that JW work for nothing.
My sister is very prideful. Decades ago, I could tell she sort of felt inferior as her her high school classmates were moving on in life and doing bigger things. For example, she mentioned one classmate and something about this classmate's reading the Wall Street Journal and having a good job. She (my sister) said it in a way that indicated that it made her feel bad as if she was a nobody. However, her point was always "I'll show them; we're gonna see who's right soon!" That "soon" has turned into over four decades.
My sister has never had a job. She barely knows how to write a check. She knows nothing of world events or finance. She is childless. She was going to get her justice and revenge against all those who went on and had normal lives...... but now, she's mid-60's and the "new world" is nowhere in sight and I think she can't face the facts.
My mother will be 90 in the not-too-distant future. She loves life and just can't bring herself to consider the possibility that the living forever in paradise thing is not real.
Where I work there is a manufacturer's rep that comes by almost weekly. About six years ago, he fell for the Nigerian gold scam thing. They really hooked him. He flew to Africa, etc. and was shown "his" gold. He was told that there were hurdles and complications to getting it out of the country. He has since spent lots of money (given to the scammers) to get his gold. Many of us kindly tried to caution him. My point: I just talked with him in the last few weeks and he still (after six years) says he's going to get his gold. I feel that somewhere inside, he must know something's wrong, but he just won't admit it - to himself or others.
I think the above might be indicative of what's going on with a lot of the old-timers. They've been eagerly waiting for decades. They've invested so much... given so much... worked so hard... that it's got to be right. They just can't face the alternative.
And to me, it's not the changes like the beards policy, clinking glasses, etc.; it's bigger, more fundamental things. It's the fact that it's going on 2026 and the "new world" was supposed to be here decades ago. Two other big things are the dumbing down and the weak, almost non-existent preaching work. The religion that once urged JWs to "take in the deeper things of God" and to "take in meat, not just milk" now discourages such and serves milk and baby food. The once bold, seemingly scholarly religion is now weak and cowardly and dumbed down.
I've illustrated it like this: The inhabitants of a certain land were promised a glorious victory by their leaders, but their land is now in smoldering ruins (see in your mind old WW2 photos of smoldering ruins); they were conquered. The people are wandering around among the ruins dazed, confused and remembering the glory days.... "we were supposed to have conquered by now." However, they still trust their leaders... "This must just be a temporary setback... maybe a test. Victory has to be coming... doesn't it???"