I do find the stagnation of the player count to be quite interesting. Its not like new players are not joining the game, they very clearly are. However, what this number does prove is that no new players are becoming dedicated to the game like they used to. This game is simply not interesting anymore.
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Other games on mobile, console and pc are now using a live service model providing content regularly (often free) to keep an active engaged player base, all modern games are competing for your precious time. This could be down to why kids do not want to continue playing graal, why put time and effort in a game where there's nothing in return, nothing new and nothing exciting.
"If you need friends to enjoy the game, the game isn't fun your friends are" - some random YouTube comment
Graal was only able to last this long because of the social aspect, once all your friends realise you can communicate via other apps and games you'll find yourself no longer playing Graal.
Well that's my best guess anyway lol