Indeed, the overall traffic of LJ is gradually decreasing, and among the top bloggers there is no longer the number of media people widely known offline, which was before (they mostly use Facebook or Instagram). The constant personnel leapfrog, the vague position of the chief editors who change too often, the desire to monetize the resource by any means does not add to the popularity of the resource. In addition, political censorship played a bad reputation for LJ - once the blogger number 1 in LJ Alexey Navalny was blocked, and another blogger number 1 Rustem Adagamov was forced to emigrate to the Czech Republic. Recently, the persecution of top bloggers has also become more frequent (you can recall the claims against Anton Nosik for his words about Syria, or the searches at Alexey Kungurov's) - all this does not add to the popularity of the resource. The same Facebook some time ago refused to block the page about the opposition rally, and at the same time continued to work in Russia.
However, I would not rush to bury LJ. First, from a technical point of view, you can set up your blog so that there will be no problems with bots or other people's intrusive attention. Secondly, the opposition between LiveJournal and Facebook itself is inappropriate - it has long been proven in practice that it is much more convenient to create a single information system from accounts in different social media, which do not replace, but complement each other well.
He lost popularity a long time ago, as indicated here in the answers - this is 2010 +/- a year or two. The reason for the death of LJ is not one, there are many of them, and the totality of these reasons accelerates the approach of LJ to the cemetery.
Firstly, at one point, LJ began to reshape, change policy and TOP, wind up social capital, change the design, then this social capital began to be reshaped. This had a big impact on the top trending content, i.e. posts that are most often visited or clicked on links, and not the most interesting or discussed ones, began to appear in the top. Plus there was a promo, paid access to the top, etc. Due to this, a wretched gown is now in the top, most users poke at links with yellow headings, this raises the post in the top, even if there is nonsense written there. I remember there were thousands of people, and the most popular of them are really worthwhile and unique magazines. Hell is at the top today.
Secondly, the LJ audience is aging, large texts are of less interest to the reader, old users remain on the site, new ones are not attracted, because social networks are more convenient, young people only need fresh information every minute, and no one needs volume archives needed. Social networks have generally changed the concept of human life, putting in the first place an insane pace, a person is fed up with information, and now he only needs something new and short in order to evaluate and run further in a second. The old LJ audience also affects the top, and the top has some influence on the general desire of users to sit on LJ. As far as I remember, there was a lot of office plankton in LJ, but closer to old age, office plankton, as you can see, changes their needs ...
Third, try to remember LJ to Bolotnaya Square. Opposition posts, Navalny, hope, revelations, no, yes, freedom of speech. It seems that then our government had not yet taken up the Internet and did not think at all that it played such a role in people's lives. Then LJ was covered with a wave of Kremlin bots and posts exposing the opposition. It has ceased to be a discussion platform for young and active guys who want to change something.
For the first time I heard that LJ died in 2010, and for a long time did not want to agree with this: I loved LJ, it seemed to me much more convenient and more sincere than social networks. It was created for complex content, it was about the number of subscribers, page design, friendship with strangers. Then it turned out that social networks, primarily Facebook, are easier. Yes, there is no customization in them, it is impossible to find anything in them every other day, even until recently it was not possible to edit posts and comments in them. But the speed of social interaction was much higher in them, the technology of re-posts and hashtags was successfully solved, the psychological barrier between friends and subscribers was removed, most of the services and platforms for commenting were integrated. And then there were likes, a convenient form of attention and reaction for the lazy.
And for the sake of these convenience, people began to flow into Facebook, agreeing that it will decide for you according to popularity criteria, what you see and what to skip, to the numerous inconveniences in formatting and layout of content, on the fact that you can be banned for some intolerant word or demonstration of a naked female breast, and the like totalitarianism. And even ardent fans of LiveJournal, except for the very top users, had to go there too.
Just because you write something on Facebook - and people see it, read it, like it and comment. Good old srachs, flames and flood - they are all here. And to write something in LJ is like shouting and expecting a reaction in a crypt or a ward with comatose patients. If anyone comes in, then by chance: "Why are you doing this here, eh?" And therefore, the only meaning of active use of LJ is the proud erection of a miraculous monument for future archaeologists.
However, today's children are likely to be sent to the dustbin of history and Facebook, because slow ancestors sit there. As they already think that Instagram is for old people, and normal guys use snapchat.
While studying, I read an amusing article "sucking on" the problem of opposition in social media. So there, based on a study of social networks Vkontakte, Twitter, Instagram, Facebook and LiveJournal, they concluded that the younger the target audience, the more difficult it is to perceive long arguments. It is easier to absorb conclusions in their finished form than to draw them yourself. Moreover, in the abundance of various information around. Therefore, the young audience smoothly flows into Twitter (short conclusions, finished result) and Instagram (images, quick information feed). As the audience of the modern opposition is getting younger, the opposition itself is using new social networks. Therefore, LJ becomes a "dead" platform: bloggers and readers get old, young people rarely come, and a kind of demographic decline turns out.
I can't say that I completely agree with the above opinion, summarized from the article, but probably this position also has a right to exist.