The funny thing is in terms of content participation it really is at an all time low.
http://www.topofrift.com/
Go to that site and you can see how many guilds participate in raiding. Only 10 have even downed the current 3 boss 10 man raid. And that's literally half of this patches content. The other half was a new paid soul which wasn't well received.
As for raiding the LFR tool they brought in has been an absolute failure since nobody queues for it. Although apparently you shouldn't be queuing for an auto matchmaking system and instead make a group and then queue for it. Logic right? No it's because there are barely any players using the feature itself unless they are fully premade.
As for PvP. Conquest and Port Scion were removed due to lack of participation and Brasse basically said to those wanting to PvP that "Rift isn't a PvP game" and that you should essentially go play Archeage (Trion publish this game.... totally a coincidence
). They literally plug a game they publish which is also a terrible game to go play.
I mean look at their library. Defiance is essentially done for, Devillian flopped, Atlas Reactor went partial F2P and nobody has heard a peep from it since, Archeage which they publish flopped, Trove is the only half decent game and probably the one that is carrying them financially at the moment and as for Rift well this expansion in general has been one disaster after another.