Hive price is below $0.40 and more than years time passed then, that is making Hive users to move away, the engagements are falling for this reason for sure.
You are quite right I think, as because curation stream is directly influenced by the coin price and if the bear market retains for a longer time- that doesnt sound good for most part.
But the overall economic conditions are changing and despite economic downturns, world is heading towards more capital coagulation and it is increasing. Hope with debts and loans repayment, people find balance in life and regain happiness.
If people are only here when the price is high, I don't mind them leaving :)