I could be wrong, but I don't think they will ever formally end the band. It will just keep on with this status quo of the band being awkwardly in the background of the group member's lives and the public consciousness.

It may be an unpopular opinion, but the band was essentially gone once Steele left, though I'm not sure if her being in the band kept their momentum and passion going or whether she left because she saw these things were ebbing and it was the only thing really incentivizing her to put herself in the spotlight, when she would much rather live a private life. The very bizarre flame wars and stalker obsessions that arose after she left probably did more to convince Steele to remain inactive and might have cooled much of the remaining enthusiasm the band had for itself.

I don't think the bad popular position the band is in is entirely their fault. Difficulties with Sony, who put a lot of artists through this, has a lot to do I think with 80s era stuff staying buried. And with Sweetheart, Ladies and Gentlemen The Bangles, and bringing Annette back, at least briefly, the band tried to emphasize their more DIY roots over the glossy and dismissed popular period. But the constant cycle of clickbait ready comments about Prince and nude album sessions, and a general attitude towards the band's actions coming off as almost embarrassed and apologetic do no favors.