Is ESO dead? NO
Is ESO dead on consoles? YES
Console players are simply not willing to pay a subscription fee like this. For those on consoles still planning to get the game and pay the fee, they will be very lonely players since the player population will be very low. Plus with the new consoles launching just a few months before ESOcones out, not many new consoles will be out there, and therefore, not that many console players. Zenimax needs to rethink their strategy and either reverse their plan or be ready to go f2p/b2p.