It's always risky using anecdotal evidence as a basis for making generalizations. Trying to extrapolate from the most minuscule of small samples to an entire playerbase of hundreds of thousands of people is statistically worthless. And there's doubtless other people whose anecdotal evidence says the exact opposite (such as myself). The people I play with are still around, and everywhere I go, I see a ton of other players in the game doing content.
That some people on your particular friend list decided to stop logging in doesn't mean anything aside outside of those specific people. It doesn't mean "quite a lot" of people are doing anything, nor for any of the reasons you put forth. For example, right now I'm playing FFXIV, Destiny 2, Warcraft 3 Reforged, and Privateer 2. I'll rotate between them. Sometimes that means there's a week or two in a row where I won't log in to FFXIV. It doesn't mean there's a lack of content or that I'm finding anything boring. I still have a long list of things I'm looking forward to doing, and I have a lot of fun every time I log in. But I also have fun playing other games, too, and only so much time to play. So sometimes I'll play those more, especially if Destiny 2 has a particular "theme of the week" going that I particularly enjoy, or if I hit a certain point in Privateer 2 where I'm really into that part of the story. None of that takes anything away from how much fun I'm also having in FFXIV.
(Un-)Fortunately, all they're really seeing is how bad of a take you have and potentially forming a larger opinion of your posts based on how it's been demolished in this thread :\If nothing else I suppose I should be grateful for the aid of those who lent their voice to amplifying this thread further and keeping it at the top of General so that more people can see the issue with Yoshi's handling of aspects of the game that don't directly impact him.