compared to a season 1 or an extended season 4 yeah
on a larger scale? not really
the games split into 5 different games and this is a “fated” season with no new elite set aligning with a classic version of the game that the majority of players today didn’t get to experience
no different than eternal was parallel with wrath
we’ll probably see 300-500k participation again in s1 of next expansion just like every season 1 since your data started