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I can't actually recall a game where someone accurately predicted it's death. Usually they seem to live on for years in spite of having that said about them.
My best example of a "Dying MMO" has to be active worlds. Even though it is a Social MMO (hangout, building, exploration etc.). In it's past it has had a few full fledged MMORPG's built and ran on it (and I am talking real content MMORPG's, with quests, combat, inventory, items, skills, npc's, politics, and absolutely massive game worlds).
You can regard it as an antiquated version of Secondlife for an idea of what it basically is. But the point of bringing it up is this...It's been dying for about 9-10 years supposedly. It started in 1995 and runs to this day. In it's prime it had maybe around 50k users with 25k on at any one time. When second life launched people left this MMO in droves. If you could even find a Second Life user today that used to play on active worlds...They would likely be floored that it still exists. But, it does. It may only have 30-90 users one at any one time spread across a couple hundred worlds. But, it's still there.
The overall point being, that as long as at least a few people care enough about a game to put out what it costs to justify keeping it open. There is no clear end to it's life in sight. And if you enjoyed playing something once upon a time, and you can still access it now. You might enjoy playing it again and it's probably worth a go, if nothing else then for indulging the want of a nostalgic trip. Don't worry about how many people still play your old game. If you like it. Play it. And if you and just enough people always like it and keep playing, it will probably never go away.
Not much details besides "I was thinking of loading it back up"... location, platform?
Assuming (based on Canada) you will go to the US servers, I'm with DamonVile, the game is in a pretty decent condition and it's valid on both platforms. I play on USPC, it has players all the time and not only in Watchtower, in the open as well. (have a toon on EUPC too, it has noticable less folks)
If you're a console-favouring one then it's even better, Smedley stated around the f2p switch that 70% is playing on the PS3, and since then the PS4 also came into the picture, so I'd guess on consoles there are at least twice the population of the pc right now.