I wonder how many people would be playing, if everyone who isn't playing because there aren't enough people playing, was playing. 
I'm sorry. I know that was just humor, but that argument, which is often trotted out, drives me crazy.
It is essentially like saying:
"If everyone would just go back to driving horse buggies, there there would be a better market for buggy whips.

"
It's both true and pointless. Those who had been horse buggy customers have either died of old age or moved on to buying automobiles.
What's left now is a handful of Amish. Those remaining Amish are still loyal and appreciate the quality of the remaining world-class
buggy whip manufacturer, but the market trajectory is not going to change by force of wishful thinking. Especially if the criteria is that no material changes to the current game can be considered. If you send the same parameters to a function, you get the same return value.
On the positive side, I suspect the rate of population decline is shallowing. Not because the market is changing, but because most who are likely to have left, already have. Those who are remaining probably represents a fairly durable population. They have pretty much decided to stay until they take a dirt nap, or HT unplugs the server. But it still seems to be an evaporation rate of about 20 players a year, at least since 2018. But I defer to Lusche.
If WB or WWIIOnline would finally give up the ghost, AH might get one last handful of refugees. But I wouldn't expect more than a 20 player bump.
Everything is impermeant. Enjoy it while it lasts.
$0.02.