Is Bionicle dying?
That's the question, isn't it. I think it depends on your definition of "dead."
Do you mean dead as in Bionicle will never come back as a LEGO toy line? Well then yes, almost certainly it is.
Do you mean dead as in are there increasingly less fans getting into/making content about/with Bionicle? That might be the case, but I have no reason to see it all as doom and gloom.
The Bionicle internet community may be small and scattered, but by no means non-existent or without passion. People here are still constantly making things about Bionicle. Flickr is very active, Ben Cossy basically has BioTube on life support (but he's still there), and probably a bunch of other places. The only problem is that very few of these communities touch each other. One could say we're all on our own islands. Inside domes. Inside a giant robot.
Small and scattered, yes, but what pools of fans that exist are very active and very closely tied together by the same passion.
Or do you mean dead maybe in the fact that the spirit of Bionicle is dying? I can't speak for everyone, but for me, the spirit of Bionicle is never going to die. Bionicle enthralled me as a kid. It captured my imagination. It taught me so many things and entertained me for countless hours. As an adult in college now, I still haven't lost that spirit. Bionicle, its themes, its aesthetics, its ideas, they all inspire me even now. The culture of its world has bled into my art, my ideas, heck, my Dungeons & Dragons characters. Nathan Furst's music has been in my head for almost a week now and I literally can't go a day without listening to the opening of Bionicle 2.
Everything about Bionicle has, is, and will continue to inspire everything I make and everything I strive to do, be it directly related or not.
Maybe Bionicle will die someday. Maybe in ten or twenty years no one will recognize its name. But maybe the world doesn't need to know Bionicle as it was. Maybe it can live on in all it inspires in its fans who were there for it.
In the meantime, there's no reason to fear. Look at all we have and all we can do with it. Bionicle is ours now, the fans. Rather than fearing the future and the thought of losing what we have, let's make the best of what time there is to show ourselves, and maybe even the world, how this little thing has inspired us.