i think it is dead. The idea itself much worste then new ideas when that space on drives are used somehow and sold for storage reasons.
This coin is far from dead... it's just starting.
I suggest you do a little more research before spreading fud.
Are we talking about an idea or about making some profit? Profit-wise it's not worth it, especially compared to how much you can make if investing into a gpu rig, $1-2 per TB per month.