We can be very confident that they are not happy, but they're probably not that sad too. I believe that in two or three more halvings they will be VERY SAD unless the price surges to more than $500,000 per Bitcoin. Because if it will stay below a minimum price level to make mining profitable, the miners might start a narrative to remove the 21,000,000 supply limit.
Shower thought. If it's truly a situation of life or death for miners, would you consider supporting a change in Bitcoin's supply limit?
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Hashrate may just reduce , or hardware may become more efficient... or fees may just skyrocket.
Miner will not become unprofitable, network can just adjust itself .