I believe this says some good things about Zam! Even at it's worst points, FFXIV Zam still had plenty of visitors.
Traffic in the Final Fantasy sections definitely dropped off significantly, but what can you expect? The problem wasn't a lack of admin attention or community spirit... but for a very long time, the development of FFXIV was happening entirely behind the scenes, leaving very little "new" content needed for fan sites to thrive. This was likely the issue for all the relevant FFXIV fansites, and not just ZAM.
Fortunately, ZAM has always had a fantastic community that enjoys spirited discussion. People may use other sites to look up guides and item stats, but ZAM has always been the place to be for people who just want to talk. I also think ZAM's editorial staff is traditionally superior to everything else out there. Not only do we have FFXIV-specific admins and writers, but there are also less-attached ZAM writers who can evaluate the game from a more objective position.
Anyway, with ARR looming, we seem to be getting a bit busier in here again. I expect we'll have even more "spirited" debates once that pesky NDA is lifted.