Maybe pixel art itself is dying. What will we do then 
Nothing lasts forever; just be glad to be part of something magnificent when it was around. I know your comment was made tongue in cheek, but I think this sentiment is a facet all humans or creatures should learn to accept. To keep something, or want to stay something forever, is a bit selfish.
Of course when many of us joined back in the day, we were teens, or young adolescents, still learning in the fields of pixel art, and art basics. Yet most of this tight knit community has grown over the years to other facets of the field of art, or have taken part in professional pixel art jobs, leaving most limited time to be more active on the "pixel for fun" part of our schedule.
Yes, there is a bit of a recession on this board as of late as well, but in any social group, this is to be expected. Things fluctuate over time naturally, to adjust to given environment. A lot of the artists submitting their art for assistance and critique in the pixel art thread currently, are admittingly a bit of lower quality then we're used to; but that's because our tight knit community is getting older, and moving on. And the younger bunch entering the boards now are at the period we were in when Pixelation was in it's hay-day; young, a bit ignorant in some of the facets of great pixel art, trying to adjust to user response by putting egos aside, and of course, still learning the basic general principles of art in general as well.
In a twisted way, this also relates to the subject at hand. We're doing a service for pixel art by keeping it alive and passing it on to the next generation of people. Once some of these newer users get the hang of things, they'll start coming into their own and developing friendships along the way, with budding back-and-forth critiques to help themselves get better(along with some seasoned/pruned vets wisdom as well

). And once these groups get better acquainted, so begins the rise of more user activity. So passing the torch, so to speak, is really what's happening at this time.
And if it dies, it dies. There really isn't much to say about that. The main goal, for me at least, is education of the form; and that's what places like this serve.