Honestly i don't think the game is dying more and more. Were just getting older and have such high expectations to videogames. "Back then" there weren't many great MMOs or expectations, so everything just seemed really good. Nostalgia is a bitch
Yes it will never be as good as people remember (nostalgia is indeed a bitch), however back in the day the class forums were always active with new people posting new ideas. Now the community is stale, and the game is stale.
I regularly think about starting playing again (and usually do reinstall once every year or 18 months), but a quick perusal of the forums here and the ladders (where practically the top 50 spots are occupied by the same handful of players) is usually enough to affirm that the game is still deteriorating.