This is not alive, as is evidenced by the roughly 400 people playing the game at a time.
Seriously, though, it is dying, but it's been doing so for years. We're still alive and kicking enough for it to be enjoyable. "Point and click" is a very, very simplified description of how it's played, but still accurate I suppose. Personally, I find it fun for a few reasons:
1. Proving myself and working my way up the ranks of a regiment is fun.
2. Each linebattle is a test of teamwork. There are 200 people on a server at a time, and though there are a few people that become popular figures, any battle can be affected by any person. Do the right things, and your team rolls to victory. Do it wrong, you fail. It's simplistic, but it's a fun type of simplicity, and one that people can never completely master.
3. The people I've met through regiments and linebattles make it enjoyable. Each regiment is a gaming community, and some of the people in them are truly interesting people who I enjoy knowing. A 1 hour linebattle every few days is a great time to play together doing something we enjoy.