In the end, though, it all just seems like band-aids. All "fixes" are to extend the life of the game a little, but there is no solution in sight for stopping playerbase decay.
I think we do have to accept, to a certain extent, that this game is not going to last forever. Eventually it will come to an end.
For the foreseeable future though, I imagine there will always be a niche for a game like Battlemaster even if that niche might get smaller over time.
And you know what? If we get to a point where the game has to be reduced to a single, small continent full of characters playing dynamically then I'd be happy with that. As long as the game is still fun then I don't care if it's only a maybe a hundred people playing it or even less.
I'm also fairly sure that, in the long run, the player base will eventually bottom out to a sustainable level. There will probably be a lot more changes to the game involved with that but I reckon it will happen.
On the other hand, even if that doesn't happen, even if the game does eventually die then it's certainly got a fair few years left in it at the very minimum. So really we should be doing all we can to have fun playing it and to make the game as much fun as possible - because sooner or later every single one of us will have to stop playing at some point.