The Presidential Scholarship is a little less generous than it was a couple of years ago. It’s now $26,000 per year while OOS tuition is $29,230 (and probably rising), so that might explain a slight drop in enrollment. UA is likely going to attract a few less OOS students than in the past. It’s still a very generous scholarship.
My son attends Alabama on the tuition-free version of the Presidential and he has been very happy with his choice.