I wouldn't say the population is declining, it's simply changing.
Of course there's going to be less players, that's because the game is starting to be really old and the dev team decided to pull some really funky stuff that drove away a big chunk of the 4.84/4.85 players, but also because we had to wait almost two years for 4.86 that's easily the worst version of the mod.
Gallia was a hell lot of fun in 4.85. Just a few systems, some pvp in the taus etc it was good. It should never have evolved in a house designed like someone was on drugs when he did it. The Omicrons were a better place too, no 300k to fly to have a chance to meet another player.