Experience with many governments shows that they often just put these bills into a drawer and pull it back out at the next opportunity.
I feel we have to protest the same things every few years here, in a democratic state where we are free to do so.
Hongkong might not have the chance in the future, so I understand where they're coming from.
Let's not pretend that what has been happening are just peaceful protests: There has also been violence, ransacking of the LegCo, and blockade of the airport. Any of which would not have been accepted anywhere.
Protesters have won on the extradition bill. It's effectively gone. Now they have just made sure that the mainland's public opinion rally against them and behind the central government. That has been a strategic mistake, IMHO.