It feels like it's dying. Just anecdotally it seems like there have been less threads lately, less quality threads, and less discussion overall. More anecdotally I feel like the last couple of federation / defederation slap fights ended with many users leaving as well. I can think of a few who left because we were federating, some who left because we then subsequently defederated from lots of the fediverse, and then even a few who said they would leave if we didn't defederate and then left anyway when we did.
I feel like mostly overall I have seen very few new posters, and have seen less and less of some certain power posters.
Is this just a illusion or is this really what's happening. What is to be done?
That's literally my point: why would you do that? — And yet that's exactly what's going on when people ask "Is Hexbear dying?".
Hexbear will only die when Hexbears want it to, because as long as people want to use Hexbear, people will use Hexbear. Therefore, Hexbear will only die when everyone collectively feels fulfilled, and so it's ultimately irrational to worry about the site dying.