I still have an account there, though I'm not using it much and am considering my options for data takeout and deletion. It feels pretty different to me, though, honestly. I think seeing it as though "things are dying down" is short-sighted. With the mod teams wiped, BotDefense gone, and so forth, I don't think things are going to stay "back to normal" for long, even if you think they're there at the moment, which I kinda don't.
That said, I'm not at all certain the fediverse can take its place. It'll depend a lot on how many folks start to use it. It's an uphill battle.
But Reddit, well, I expect it to head downhill pretty badly.