Your statement can be true in general, but maybe this is not the only reason.
Why do thousands of people are left/leaving Steemit?
I currently have 917 followers, but most of them are inactive nowadays.
They left Steemit long ago.
No matter what I post, what I write about, what I do, only a few people cares about my posts.
I rarely receive real, human comments. The real interaction is rare.
I see this not only in my case. I see many people in the same or similar situation.
Because of the lack of the real interaction I also became less active on Steemit nowadays.