Crypto exchanges are not dead, it is just that there are a lot less people trading and investing in such conditions.
BUT there are good ideas and exchange platforms being built at the moment.

There is one exchange that will offer copy-trading and algo trading to its customers. You will be able to follow and the trades of a chosen trader.
It is called - Covesting (Regulate by Gibraltar, DLT license)
Their token-economics are not to be missed.
-50% fee reduction when trading through COV-pair pairs
- You will need to buy COV to be able to follow a trader.
- You will need to buy and lock COV to unlock access to algo trading.
- Token burning - 50% of the exchange fees will go to burning the token.

So NO, I don't think that innovative and regulated exchanges are dead, it is just that the market is in a very bad situation.