It's not dead in that there's nobody playing, it's dead in that there's nothing changing. MAG is just going to decay in the dark corner Zipper has shoved it into, and that's the end of the story.
True, it is bound to eventually die down relativley soon since there is no real new activity and with the more shooters that keep coming out especially, I just wish people would stop being so pesimist about it and actually enjoy the time it has left :/
I'm not sure Zipper really understands what they have sitting in their lap. With all it's bugs and cheater issues, MAG is still the best Military Squad FPS on the market, in my opinion. Not one other FPS does what MAG does for me. It's like a big fat rock of...crack? And I'm a decent player, but not great. I can't put MAG down. Finally got my Raven guys KDR to 1.0 after almost a full year of playing.
Then again Zipper managed to screw up the SOCOM series. I was not happy with SOCOM4. 1 and 2 were the best games.
MAG lovers worldwide just need to hope Zipper pays attention to our posts and doesn't give up on what could very be the best FPS in history.
It ain't dead yet.