* it has its quirks but we know them and each newer version fix more of them.
* its damn fast (more than python or ruby)
* its type system is better than python (trait/interface , union type <3 , and now intersection type ! )
* symfony/laravel have evolved over the last 10 years, most of the things you knew 10 years ago are still true now
and as a result it tends to attract people with the same mentality, my experience with recruiting php developer is that you have a much clearer clivage of "wordpress website maintainer" and "people who want to get shit done"you will not find for example "genius developer, that write code faster than you think, who writes all his project in rust but is now thinking to switch to haskell and will leave your company as soon as it find a company that use it"
Take our company for example, our flagship web product was developed more than a decade ago, and, well, today we still use PHP, because rewriting everything in a different language is a gargantuan task. It's not only about the language itself, but also about all the tooling/best practices etc. around it, which you have to replace, and it's costly. We do gradually modernize our code to remove all the PHP5-era warts, and it's much easier to accomplish than switch to a different language entirely. Modern PHP7+ with Symfony is very pleasant to work with, and in my opinion, from the productivity standpoint, there's really no reason to switch to anything else. Also, PHP7+ seems to be faster than Python/Ruby in raw interpreter speed. However, we realized that we can't scale further if we stay with our PHP/Symfony monolith for everything because of Symfony's considerable startup overhead, so we now try to write new services in Go (request processing is usually 10 times faster for our loads), and seems like the combo PHP+Go is very popular among PHP developers in general.
So, I'd say, PHP isn't "dead" and is still widely used in 2021, however, in my opinion, its usage is indeed dwindling, because there seems to be a trend even in our own PHP community to gradually supplement/replace/augment parts of our projects with services written in Go, and PHP is more and more frequently equaled to "legacy"/"monolith".
PHP has become better and better over the years!