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I've not been around much at all recently (can't even remember my last post) but frankly it just seems like the userbase has grown up. Heck, I started on a different account in 2004 when I was only 12. There just is only a certain amount of longevity that fansites can have, especially if actual Habbo users are truly leaving in droves.
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Let us not forget that Habbo used to get 12K-15K regularly. Now it peaks at around 5.5-6K. Bound to have a detrimental effect. HxF doesn't get as many posts as some others but they have much more 'developed' conversations and have by far the best Habbo section.