I don't know about steam but if you look at the twitch numbers (which probably correlate more with esport from a pro/money perspective) CSGO does look to be declining since its peak in 2020[0] (which I'd wager was due to some huge event or the pandemic) and is consistently less popular than Valorant.

0. https://twitchtracker.com/games/32399

Apr. 2020 was peak daily players, 857k, the exact month Valorant Beta was released. They're trending down to 563k as of the last 30 days, down 34% in just 2 years. Valorant is posting 1.5m and has only been trending upwards. Maybe "dead" is exaggerative but long term trend is clear with Riot's compared to Valve's stewardship.

I have no idea how you can come to that conclusion based on that data.

valorant is too new of a game to tell, overwatch was pretty big back in the day too

apr 2020 was peak daily players because of lockdowns.