When people say Olympus is dying, they don't mean the server player count. There probably are some idiots that think you could determine anything from that, but that's not the point. We don't really focus on new players, as we already have a rather large and loyal community, but the problem is it's just getting stale. You're either doing runs, hijjacking people during runs, or sitting on a rock at a cartel. The server was fun for everyone when they first played, and despite the fact I'm doing the same thing I still found fun in this server for a long time. For whatever reason though, I've experienced a very large drop in the level of fun I have playing on here, or playing on Arma in general. Why specifically NOW, no idea, but when I see people talking about it dying, they don't mean the community, they mean the level of enjoyment.
A server wipe would be good for leveling the player field again, as there's a huge imbalance of power regarding new players and gangs, but it definitely would not revive the server, it may even kill it. I say nay.