Technology
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The writings been on the all for a long time. Public trackers are as good as dead. People have held on to a cocky attitude that there will always be somebody to take up the mantle but that hasn't been true in so long. Anti-piracy has been winning by war of attrition.
The interest in bittorrent usage has been on a gradual decline for good decade at least. Try looking for some recent shows these days and you'll be hard pressed to find many seeders for even popular ones. You'll still be able to download it eventually but it's a long way down from the heyday when obscure content was highly available.
These days everyone has streaming subscriptions or is logging in with someones account. The dwindling number of torrenters will download and watch relatively soon after release. Then the torrent dies real quick.
I'm pretty sure to much of the younger generations piracy means getting content from pirate streaming sites more than anything. The decline of PC usage has got to be a big factor too. There just isn't anymore nerd culture of your PC being your main device much less leaving it running 24/7 with a torrent client. I bet soon enough as gen alpha comes of age, bittorrent will be a forgotten technology of the ancients.
I believe the low seed counts are due to the absolute trash out there. Actual good shows and movies are still strong. Niche items have always been hard to find. But we're saturated with garbage entertainment these days. No one really cares to seed what they watch once and then never think about again.