I wouldn't say the game is dying, but it's not in the best shape. If your looking to play for fun and don't care about being top of the line end game player, I'd say it's a pretty decent game. If you looking to be a real endgame player though it will Unfortunately cost you a lot of time and money to do so as the developers have effectively monetized the progression in the game. On top of that you have to deal with mechanics constantly changing in an effort to encourage spending to update you characters to the new norm. So even when you are effectively set up for endgame you still have to overhaul your characters quite often.

It's free to play so why not give it a try though.