I don't think its "clearly over"; the hashing power on optiminer is around 40KH/sec, which is not bad. Definitely it will be difficult to trade if it gets delisted but I don't think the coin is dead. It will be if there are no more developments; if new features keep coming, then it will HODL
Because there are always clueless newbs who want to mine. They think cpu mining is going to make them a millionaire. When they realize that isn't the case, that the coin is worthless, that the blocks mined are tied up for a year... They then quit this coin and go somewhere else.
But there will always be newbs so maybe the coin will always have miners.
BUT what good is a worthless coin even if you have a lot of it?