there's also the issue of FallenSword not being the only game people play... some have left the game due to finding another game to play that is more addictive. This could be part of the 'real life issues', as it is reality that people play more than one game to keep them happy.
There is still a hard core of players who stick to FS. It's only natural for any game to have a player base that expands and contracts according to the advertising strategies of the makers.