Even though Nicolas Cage is one of the highest paid celebrities in the world, the actor is broke and lives paycheck-to-paycheck to afford his millionaire lifestyle (he owns castles, plural). So now the more terrible movies he does (just to get paid), the more people forget what they liked about him. He's downward spiraling. He's Nicolas Caging.
AKA the slow, humiliating Crash and burn.
"Our first date was going really well, but then I told her like a hundred knock-knock jokes. Yeah, she pretty much lost interest once I started Nicolas Caging..."
"Did you hear about that guy who won the lottery and is now on welfare? That's some hard-core Nicolas Caging right there."