I don't believe this is dead by any stretch but the kicker is the content or very lack of any new content to put it bluntly.
I bought the battle pass but there really isn't anything in it. They have explained they don't want to upset the balance of the game too much so won't make many quick sandbox changes but ironically thats the thing that shouldn't be touched much, if at all. Its why many people love it, I think it ranks number 1 currently for its overall FPS gameplay. Problem is, Fortnite can just release a limited time mode with Marvel just like that and Apex hasn't really seen anything whatsoever.
I'm pretty much feeling like they weren't ready for this game to praised highly enough and they geniunely didn't have a plan to update content much with this game. Now they have to so they can keep the player base. Would love to see another map and some objectives to complete like Fortnite does. Hell, because of the challenges that my son needs I end up getting engrossed in a few games of Fortnite every week.