No issue with time standards changes. If you are running a 1:07, you aren't going to win. Hate to say it, but it's true. Marathon qualifying standards have increased for the OT each time since 08. Use it as a catalyst to train harder.
IAAF needs to change its restrictions on what can be shown on a uniform. Runners need to be able to have more individualized uniforms (with numerous logos) so they will make more money from sponsorships and runners can better individualize themselves. That will bring in more money for an individual runner and it may even bring in more attention to the sport. Presently, runners live and die by their shoe contract.
The sport itself needs to find better ways to bring in an audience, such that television gets more interested in putting the events on air for free. Right now, most races can only be viewed on a pay-per-service basis (Universal, FloTrack, etc...). A handful get shown on ESPN2. Hard to get people who are only slightly interested to want to pay money to watch it. But building up an audience will lead to more money from sponsors. More money from sponsors will lead to better budgets for travel/lodging/race time bonuses.
How to build up an audience? Perhaps having races where the best in the world compete against one another. Unfortunately, that only seems to happen at the Olympics. There is an occasional diamond league EVENT (not meet, but event), worth watching.
What I would suggest to fix that is to make the prize money for a win so damn high, that the best want to show up and win it. $150,000 for a major marathon win brings some competitors, but not all. This should be beefed up to $500,000 - just for the win. Make 2nd worth 400,000. Find a way to get a few million in prize money for a marathon and you'll get the big names to show up. Same can be said for track meets. If there is a lot of prize money on the line, the best will want to show up and compete. I know that it's tough to attract sponsors to meets because they tend to be slow-paced, but there has to be a way.
10000000000x more difficult to accomplish than by me merely typing it above. But that's what needs to happen.