The character who was first introduced in 1974, really became popular in the 80's. He was the prototype embodiment of1980's vigilante justice, a fictional counterparts to the Bernie Goetz of the era. His origin is basically the same as Batman (family killed by parents, seeks vengeance), but unlike Bats, Punisher has no problem icing fools like a baker (ZING!).
Yet, vigilantes aren't that cool anymore. With this rise of Barrack Obama, suddenly people really don't need the bullet, cause the ballot actually worked for once. People don't want insane violence because it dominates the news (terrorist attacks and two wars raging). What do they want, apparently vampire romances, and heroes like James Bond and Batman, who are violent, yet know their limits. Unlike the 80's, where excess reigned supreme, looks like this Punisher just doesn't belong anymore (just so you know I spared you from a lame, he should be punished joke)