It is still a really strong franchise, but nothing is too big to fail, just look at the banking crisis, Lehman Bros thought they were too big to fail.
It's not that I wish too see it fail but rather would like some sort of evolution which I'm sure Next-Gen will deliver.
I've taken a break from COD (1 Month) and have been playing some PC titles like ARMA, the change in pace is refreshing.
Why would players want essentially the same game? year in, year out.
I think Black Ops 2 has lost player numbers, the reason I think this is because hardly anyone on my friends list is playing anymore.
Activision has already taken you're money for the games I don't think they really care who's playing what game in the series, they've already made the profit.
If it was pay to play (like WoW) it would be a different story they would probably put more effort in as it would definitely harm profits if no one was playing.
Who knows perhaps the next COD will take on this option as we don't know for sure how the next gen consoles will be set up, don't forget they make no profit from pre-owned games, this would rectify that.
Going back to the figures for each game I've seen more players on MW3 than BO2 a few times but never by much and it's usually just after a patch or update, I've never seen more players on BO though.