What's the ultimate objective? Artistic self-realization? Commercial success? If the latter, I believe the reason there are only a handful of viable laser show companies (fewer still if one looks beyond companies that are cult-of-personality shops resting on just one talented, hardworking person) is pretty clear. Lack of engaging content. Beams are great, for about 5 minutes. Abstracts are wonderful, for about 10 minutes. What is sorely lacking is story-telling, plot driven, laser show content. That's how your connect with your audience on an emotional level over the long haul. Just look at every other medium. TV, movies, etc. Take away the engaging content, and you might as well toss your 3-D TVs and 8000K x 8000K digital projection systems out the window. On the flip side, look at animation. What could have been a brief visual stylistic fad in the 1930's is still going strong because it's creators transitioned from forgettable shorts to 1st rate story-telling, all the while embracing what one could do with animation that wasn't possible with real actors. My kids love Tom and Jerry
For some reason, we as a field are fixated with recapturing the magic of Laserium in the late 70's (no disrespect, Laserist), instead of embracing the realities of today's audience. And while music is key, it's not just as simple as swapping out Floyd for Outkast and running the same general types of visuals. That approach, I humbly believe, led to the steep decline of Laserium, LFI, and AVI in the 1990's, as other electronic media really took off. One needs to understand what lasers do better than any other visual medium, and then find ways to deliver a rich experience to a targeted audience.
Regarding a formula, I think one just needs to look to big studios and networks to see pattern methodology at work on the mainstream. They arrive at a formula numerically, synthesize a solution that's semi-empirical or formulaic, and run on it for about 2-4 years until changes in popular culture shift enough, then repeat the cycle again.
Peace.