Yes it most certainly is on a secular decline. It is no longer growing at rates that are keeping up with the online user base. New internet users are no longer even setting up email accounts.
Email is dying. Its not dead, but it is no longer the go-forward internet communication platform.
Together these PN based winners outstrip the combined usage of almost all web apps. I mean you are all downvoting me -- but its kind of funny how out of the loop the thinking is here.
It is declining, but it's not dying.
People are not using it for instant communication as other apps have taken the place of that, but email is very much used and useful.