He is right, he didn't say the number of active users, but the number of active addresses, and that is going down. The number of users might even go up at this point, nobody knows, but it's clear overall usage is going down, can you remember how long ago was it when we last had 1sat transactions getting confirmed during the normal weekdays?
Look at the number of
transactions also, we're back to 2018 numbers.
Slowly bitcoin turns into gold, when gold coins were too precious to buy stuff with it and we're far more often buried in a pot in the garden.
You are forgetting that the biggest number of on-chain transactions have always been coming from day-traders. And traders need volatility to make profit and bitcoin price has been stable most of the past ~3 months in the $30k range with very little movement. And when 90% of days you can't make a profit, you exit the market and don't make any new transactions. Hence the number of on-chain txs fall.
It is not just 2018 numbers, we have it every now and then. We saw it from Nov 2019 to Jan 2020 when price was stuck in $6k, then again in June to August 2020 when price wasn't able to break $10k and ....
During times like $30k when people are brainwashed to think this is 2018 bear market again, they stay away from the market hence even less on-chain tx volume (and also less trading volume). Even when the reversal starts and price reaches $50k they still remain brainwashed until it is too late then they suddenly jump back and we see 100 sat/vbyte fees again at $70k price.
In short this has very little to do with bitcoin usage.