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Dead? No.

Dying? Debatable.

It's gone from an expectation of 20 Million to 18 Million for the last FY to 13 Million this FY. It's in free fall. Nintendo are releasing next to nothing for it in the near future and the only real "huge" 3rd party title on the horizon is Dragon Quest X.

The recent quarter is the lowest it's ever had, and to compare it to the previous generation leader... It's lower than the PS2 has ever gone in a Quarter and it doesn't have the support from 3rd parties that the PS2 had after next-gen consoles were released.

IMO, it's dying.