I think Steem is dying because most people in the community is sees a brighter future for Hive and is in the process of migrating there. Not too many people are left on Steem. Most Hive users that made up the original Steem community do not like centralization and censorship. Justin Sun has total control over Steem now and he's censoring posts. Most people here see Steem being a blockchain as pointless.
I will continue to use it to earn for as long as I can but I do not intend to grow my stake on it.