Is this game slowly dying?

[Souljacker]

The expansion pack might motivate people into sticking around for GOOD this time.

Only if SE changes their approach. There's a lot of things wrong with the game, and just slapping more of the same grindy, rng based, gilsink based, throw ground poo until someone lags and wipes the raid content isn't going to motivate anyone to stick around for "good".