Without Mike Pall, it won't be progressing as quickly, but it's definitely not dead. It can still fill a niche as a best in class embedded language thanks to its amazing JIT. It's used in Redis, mpv, neovim, and a lot of other very popular software projects.

However, I'm hoping to learn more about the internals of the JIT to see if I can take up some of the effort in progressing it. I have a very deep interest in Luajit for some reason. As long as people like me exist, it's not dead.