It's not dead! We're occasionally posting updates on our social media :)
Edit:
To give you a brief summary:
We've got most of the sprites done and started on CGs. The story is written and currently on its second editing pass. The music is...well, a lot of it is done, but I actually have no clue how much more the composer wanted to make.
It's a three person project, so progress is very slow. When we started it, we always joked that we'd need about a decade. By now, we've decided to do it in chunks, releasing a route at a time, and that feels much better.
We're all very excited to finally get this thing out, but since it's a hobby project, life and our day jobs sometimes get in the way. But by now an end is in sight at least.