I dont think it is Dead either but there was just a big percentage of people who left since Heavensward. I see it on my friends list. I also started playing FFXI because of my board-em with FFXIV. FFXI just had a huge influx of people from FFXIV and most are saying the same thing about FFXIV now and why they left.. Cookie cutter dungeons, recycled content, never feeling like you get anywhere. The harder content doesn't reward you anymore than doing easier content..
But I do not believe the game is dying or at its end but it is at the point where if they dont change something they are going to have a mediocre game.. There are still plenty of loyal people who will pay to do the same things over and over or for glamour.
I have have not de-subed yet because I think the game has a huge potential, I am getting worried SE does not see that or is even listening anymore. I think they are more worried about how they can get people to buy more stuff in the cash shop. The cash shop was supposed to make the game better and did that happen? I am loosing my confidence in this game. Even a dieing game like FFXI feels fresher than FFXIV. I really think FFXIV has a good base to build on I just dont think SE feels like throwing resources at it. I mean look at housing and still not real fix. Housing is another thing that is really cool if they take advantage of it and give a people a reason to use their houses.. It just seem like since end game SE has no idea what to do with FFXIV.