One could alternately ask "Is Substack all but dead?". At the moment I don't have the two hours to invest in listening, but I'll bookmark it for possible follow-up.
As of today, Substack still works for what I do, which does not involve producing income or garnering "likes" or replies. There is some organic reach, thanks to newer social media features, and I find that sufficient.
In the future, tentatively: write more often (perhaps monthly), comment less and more briefly.