I imagine part of it's that it's summer in the northern hemisphere so a lot of people have their rigs turned offline because of the heat.
Also to be a bit pedantic, it's petaFLOPS instead of FLOPS. 1 petaFLOP is 1 000 000 000 000 000 FLOPS. Anyway, I think people still know what you mean.
RE: Gridcoin - State of the Network - 22 July 2019