Steam happened. It just exploded with popularity.
I would never say it was dying or dead, but it seems there was a time when consoles were strong and developers/publishers were really concerned about piracy on PC. At the least Steam gives them a little comfort and with its popularity, a ton of sales.
This year has been pretty shocking for PC ports though... kinda dented my confidence a bit.
This, ports are worst than ever. Dev's are super lazy at the moment and just don't give a monkeys about the PC side of things it seems. I really hope it changes.