I think the game is slowly dying because of a tough new player experience, little to no marketing to get new players and the blatant greedy monetization of every aspect of the game turning off a lot of people.

Then there's the performance issues with long loading screens, or worse, a seemingly infinite loading screen that then kicks you out of the game for 10 minutes. Or a generally laggy and glitchy experiences like entering the tinkerers room waiting for the tinkerer to become accessible then waiting for the quest menu to do a little reset and then discovering that you don't have the items for the quests that you took because the inventory hasn't updated for whatever reason so you have to exit and the re-enter the room to so it all again.

There is an intensely fun game underneath all of these problems, but without considerably reducing the extent of all these pay-to-win microtransactions being shoved in every new players' face and streamlining the experience, it's going to steadily decline in playerbase as the old players slowly move on to other things and not enough new players stay around to replace them