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Deyon said:

I've noticed that the forums and the community is not what it once was and that is why I gathered you guys today to discuss and hopefully we can come to a positive quick solution.

I personally believe its due to the absolute domination of the PS4/5 I mean there is no reason to search up and join a sales site when you already know which side is winning from the start. The PS3/360 era was too close and very competitive sales wise that it made the site an attractive place to those who are passionate about the industry.

Even though I am a Sony fan, I hope with all my heart that the PS5 bombs and Xbox catches up to save this site and get some new blood around here.

Thoughts on my professional analysis?

The fact that you called it the PS3/360 era and omitted the Wii in that sentence is pretty telling.  

But no, your thesis seems inaccurate.  The fact is that in 2006-2010 people were more likely to visit websites and forums.  And there weren't that many of them to begin with.  These days the gaming community is spread out across a great number of robust platforms like YouTube, Twitter, Reddit, Discord, not to mention Facebook (which wasn't even a thing back during the heyday of this site, if you can believe that).  The fact that VGChartz doesn't have a very good mobile site doesn't help things and certainly doesn't encourage new usership. 

Overall I think we all should feel lucky the site even still exists some 12-15 years removed from when it had the best shot at viability.  I think we have a strong group of volunteers (and minimally paid) users who are to thank for that.