The game is not dead, it is just a bit of a hiatus rn. With some major issues that plagued the game together with other similar games having big releases it is expected.
People will return to it when new patches come and then we need to see how many stick, but overall if the game improves I don’t see a reason why it should go upwards with the concurrent players.
Here is a statement from the Game Director and CEO in a similar thread.
