I agree,
Vietnam and Malaysia offer far better value for money if you are not in Asia solely for the nightlife.
As others have pointed out here, Thailand isn't keeping pace with the times and is producing regurgitated entertainment.
Those working in brothels offer poor value for money at extortionate prices.
That, coupled with a poor safety record, increasing scams, and, of course, Thailand is no longer cheap and no longer represents value for money within the region.
I don't spend much in Thailand anymore, as I feel it's a rip-off.
The best offerings are still value-for-money hotels, but they are creeping up; once they reach parity with European standards, there will be nothing left.