Mining is only dead for those whose electrical costs are high enough to actually strip out any profit given the coin they are on.  

Mining may be dead for one person, but not at all for another.  Blanket statements like 'mining is dead' are made by newbies who are simply new to the profitability cycle of virtual currency and who likely came in merely for a quick speculative buck based on something they read or where told.  These same newbies always make the mistake of thinking that their ROI will be a linear constant.  It almost never is.  It could be sped up in impressive fashion (re: latest altcoin explosion over the winter), or sit back and plod along like stuff is now.  

In short, you either give yourself the necessary time to potentially break even in the least - or simply don't even get involved in the first place.

Remember, the lazy person always starves - the same is true for altcoin mining. If you don't work at it, you will starve too.  The profitability landscape is always shifting: one must adapt to the shifts.  Nothing ever dies.