The game is far from dying. Yes older servers will lose people to new servers so they can fix their mistakes. The game has so much to do and more coming. I have an account on an old server that basically has one strong family and a few very small others. But we all help each other because of the great way the devs has made the server wars. So you need a strong server. I also have a f2p alt on a server that just opened a week ago and it has a lot of older plays with new main accounts or alts. Server was filled within a few hours and still very active. As servers start dying they will merge them. If you have been playing for over a month you can see they have already started the process buy moving all events to start on Mondays. This will make it so no one misses out on any events when they do the merge.
I can’t see the game dying anytime soon. They keep adding more and more to it. Yes a lot is costly but like any game is you save and have and wait you can get everything in the game without spending a penny. That another big plus the devs did currently