The last proper version of Visual Basic was released in 1998 -- Microsoft discontinued it in favor of VB.NET. If they continued to develop VB, I think it would still be a heavily used platform.
Hypercard is not the same thing. People didn't build real applications in Hypercard -- it was a toy. I spent a lot of time playing with Hypercard and it was very VB-like when programming for it but the UI was more like Flash. It's best use was making simple games.
The real problem with simple tools is that they solve simple problems. Once you have to start doing something outside of the tools range, you're stuck. This happens with every tool but more complex tools have a bigger range.