That’s incorrect. Projects need to report quarterly and need a Project Management Committee of at least three people, or they are retired. Retired projects may not make releases.
(Source: past ASF board member, who used to review those reports each month.)
There are a fair number of retired projects, and others that may become retired within the near-to-medium term. The ASF has been around for a while, and every software project has a life cycle. Those are still associated with the ASF brand because Google, whatcha gonna do? An explicit retirement policy overseen by a board is still superior to how the vast majority of open source projects approach end-of-life.