GPU mining is NOT dead.
you can buy 9 R9 280X cards for $3500 and get the same hash rate 6MH @ 1800W. Power usage is higher than ASIC (1200W). But GPUs have a second hand market value. GPUs come with warranty and they are manufactured by well known companies unlike those ASIC vendors who accept BTC and Western Union payments only.
Exactly what I think too, Who wants to be left with a machine that's no good for anything else. Totally not worth it.