Not dead at all but moving into a custom chamber only it looks like. They seem to be commanding a premium on the used market these days and its a great round. I think you will see factory offerings from time to time but will not be a regular in anybody's line.
A nephew bought one last summer. Salesman at the shop must have been pumping him pretty hard. Got a scope mounted and went to buy some ammo and had a very difficult time finding any . Not a happy camper. He got a heck of a deal on the rifle and now he knows why. Had a talk with him at Christmas and he decided he wants to keep it so its time to take in a lifetime suppy of brass.
I'm on my 2nd one. I bought a bunch of failsafe ammunition on gunbroker cheap. It actually shoots really good for hunting out aways. Brass is formed and then on to Bergers 168's awesome. I'm going to re stock soon. I think that ammo is still on Gunbroker and it's about 25 a box. The win 70 I bought on Gunbroker for about 450. There are more on there. My other is a Browning. If I ever shoot the barrel out I can stay with 7 wsm or go to 300WSM. That seems like the keeper of the wsm's.