You never know what the counterpart is saying when claiming it dead or alive and people seem to have _ wildly_ different concepts what it means.
The original quote seems to be: "The complexity for minimum component costs has increased at a rate of roughly a factor of two per year" - I think this held up pretty well.
Wikipedia says:
"Moore's law is the observation that the number of transistors in an integrated circuit (IC) doubles about every two years, with minimal increase in cost."
Notice nowhere any mention of area. It's more related to cost?