That mentality is the manifestation of stagnation.
It's also supremely weird. Most realms do not have much if any inter-realm interaction any more, so what does it matter if a realm dies if it's only a name. I'd guess that people who'd leave over the death of a realm aren't very involved in the game to begin with, and that a realm loss would merely serve as a wakeup call to that fact.
An adventurous attitude is what's required for a vibrant realm; a willingness to put everything on the line. It's not a sure bet, but it's better than nothing. Clinging to realms is not only pointless, it's counteractive. So do away with these realms of today and create new and better realms tomorrow. Sitting in the same realm for ten years and expecting it to last ten more is just about the lamest thing I can think of.
Perhaps the reason for the player loss is stagnation. While the East Island was waging that massive and drastic war five years ago it was very popular. Players started draining out of that place shortly after the war ended, when prospects for another such war began to look grim.
