I wonder if this is related to the shift in media consumption habits more than anything.

Empirically from my experiences, I’ve shifted from watching “official” content (e.g., TV shows, movies, etc) to watching a lot more YouTube content. I still watch traditional content, but I also watch a boatload more YouTube than I did 5 or even 10 years ago. There’s just so much out there on YouTube you can pretty much always watch something for a certain topic.

Since there’s no need to pirate YouTube content, there’s less need/desire to use BitTorrent in the first place.