Not that PoW is dying, POS is cost-efficient in scamming people.  That is one of the best reasons why many prefer POS than PoW

In a money-grab developer's mind: why bother with PoW when they can use PoS to mine 100% of the coins and sell them to unsuspecting investors.  If you happen to see the pattern of new projects today, there are lots selling their pre-mined coins/token here and there.