It’s a ridiculous metric anyway. There are dozens of ancient MMOS that still manage to crawl along because a few hundred subscribers is enough to fund one or two developers in maintenance mode effectively forever. See also indie studios like Spiderweb Software who’ve been sustainably selling games to their fans for decades. See also indie roguelike devs who manage to make their one game a job by having a patreon and a few hundred fans. See also retrogaming. See also the boomer shooter renaissance.
Games on the whole have never been less dead, unless their studio intentionally smothers them by shutting down servers and locking off access.