I don't think the game is dead...it has some attention, it has a chance to build its playerbase and it hasn't yet gone free to play, which might help...but it's definitely in deep deep trouble.
I don't think that emphasizing the zero grav is the problem (since that's basically the game's gimmick and if not for that it's super generic.) I think the issues are 1) it's in a flooded marketplace, 2) it doesn't look particularly special, appearing to be just another one of these online only multiplayer shooters and 3) it has zero personality. For a game called Lawbreakers it certainly doesn't emphasize the "lawbreakers" themselves, and even after watching the GB Quick Look I couldn't name one of them except ninja-guy, who seemed pretty generic.
It just looks like another one of the same game we've been playing for a couple years now (which is an iteration of the same game we've been playing since Quake.) There's nothing about it that seems appealing. If you wanted a high mobility team based shooter there have been a ton of them.
To succeed in this market these days you need a hook. Titanfall has giant robots. Overwatch has characters. Paladins has some characters but is also free to play (low barrier to entry is a way to get people in.)
What does Lawbreakers have? Zero gravity, which as you said isn't that big a game change, and Cliffy B's name, which doesn't carry that much weight anymore.
How to turn it around? Fix the tutorials so that it is welcoming to new players. Create some new marketing focused around characters or other unique elements of the game. Lower the barrier to entry, even if it annoys the current player base. Games are too focused on making sure early adopters feel like they got bang for their buck, but they're better off with a larger player base.
Would all that work? Depends on how it's done, but probably not. It would at least give them a chance. Sitting back and waiting for the playerbase to build itself on word of mouth rarely works. I guess Rainbow Six: Siege did it, but that game had a lot more unique features, and it was aggressive with discounts and free play weekends fairly soon after launch.
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