https://www.strafe.com/news/read/blast-report-e11-5m-losses-in-2022/
"Despite experiencing a significant increase in revenue from €13.4 million in 2021 to an impressive €31.6 million in 2022"
It cant be dying if they are getting more revenue, just bad financial spending I guess
Also blast cover a whole bunch of games, even says in the article "With a strong presence in three major esports ecosystems—CS:GO, Fortnite, and Rainbow Six—BLAST expects revenue growth." so you can also factor in that other games may be losing blast money