Yeah, game really needs a shot in the arm. The FFT fiasco + us missing the past orbfest + lots of people getting burned (again) on the bannerfest + slowing down of events and missing events has hurt the game significantly. Add in Pokemon Go (which is hurting everyone to be fair) but more directly FFBE which is a pretty direct compeitor and it's a bad look for FFRK right now. I'm still playing but am purely on maintenance mode with just burning Stamina on dailies and new content as it hits but that's it. Been burned so badly so many times on pulls that I'm not even doing 100 gem pulls anymore, and I'm doing zero mythril pulls until we get guaranteed 5*'s. There's just not any real excitement or stuff to look forward to right now.
FFBE is an interesting diversion I've been messing with here and there, it's definitely way more of an actual "game" than FFRK is and it has some hooks that are appealing enough to me that I will probably continue to mess with it casually, but it's also way more of a time commitment and grind, and it's gacha is probably actually worse than FFRK's since you're rolling literally for characters, not just items. It's still a pretty neat thing and I'm sure that it's pulled some people off FFRK completely, but I feel like they're hitting pretty different notes for me personally at least.
All that being said I'm sure FFRK is still doing well for them and isn't going anywhere remotely soon.