If "it has high MAU" is your only metric for whether or not a social platform is doing well, then Facebook is also still extremely successful and not struggling at all. But in reality we all know this isn't true, they likely wouldn't even have made Threads if it was.
I have no data. All I know is personally, nobody I know uses it, nobody sends me links on it, and when I last visited it was all highly curated corporate or celebrity accounts. No thanks.
Because Zuckerberg said 2 months ago it had 100m MAU which is very much the opposite of dead.