It's still around, but the hype has faded. Users discovered numerous issues with the project and began abandoning it. I remember one month when everyone was all, "LangChain is the future," and another month when the sentiment became: "LangChain is terrible."
It is but I feel it's main value prop as a developer friendly abstraction layer has been very well solved for by the actual model providers themselves, while LangChain itself have become more bloated, clunky, and to under-opinionated.