Shame to see it suffering. I think it was a combination of factors that stopped it getting more popular, and made it less so.
VGC 3.0 was part of it, but also I think the forum shift in general towards PS3 users was annoying X360 users (I think Seece managed to rally some of those who lost interest together on some months, probably including the May 2010 thread) which combined with the fact that many PS3 releases were/are announced years before release (unlike for Wii) meant it was getting a bit dull seeing the same games at the top all the time. Also around that same time the future Wii releases were bleak... in fact I would still be voting in the threads myself if I were not a Wii only owner, and thus struggle to think of more than a couple of future releases I want.
After that I think it could be difficult to get it popular again because the results don't really mean very much when so few people vote (even when there were 2k+ points worth only the top 20-30 games were significant, the rest could easily move up or down the list by a few dozen places based on 1 or 2 of the participants inclusion in that particular month)
