I disagree. Crocs are fantastic. The problem was the kock-offs. My kids all have fake Crocs, gotten for between $2 and $10, while the name-brand Crocs were $30-45. They must have had a crappy copyright/patent law firm, because those knock-offs were available less than a year after Crocs came out.
I believe that the same thing happened with boat shoes when they were popular - the cheap knock offs came shortly after.
I have 3 pairs in different colors. I am not sure about the quality of the knockoffs, but obviously the cheaper prices affected Crocs sales. I, too, was surprised to see the knockoffs on the market in such a short time.
Crocs can survive if they cut their prices in half. They have made their fortune, and I think they can survive with a lowered profit.