Minecraft won't die for a very long time. It's not growing, granted, but it's certainly not dead.
The main factor is the shift of their marketing efforts towards a younger demographic. It makes their older players less likely to hang around, and the division of Minecraft across platforms (XBOX/PS4/PC/Switch) has resulted in a dip in player density on PC, for sure.
But I can't see Minecraft dying. There's nothing else that offers the sheer versatility of a Minecraft server, and they're just released one of their biggest technical overhauls ever. It's safe to say that they're in it for the long term and they know how they're staying there.