I think one problem is uneven competition. One could open a quality bar but it would likely require costs to renovate\build new and costs to keep it kept up, but as long as there's plenty of close-by competition that doesnt care if their place is an absolute mess, which allows them to keep drink prices low, they have a tough road against those when theyre targeting limited income college students. Now if you knocked down most of the whole west block of welch\lincoln way and redeveloped it as well and everything was on a level field, maybe you might see some quality bar options open. Maybe could see some of des moines successful chain bars (like saints\tonic or wellmans) open up in there.
I apologize for essentially copying your post.