Hip hop isn't dead, bit its stagnant and white people, as a whole, are losing their taste for it. Which matters if the conversation is about "charting" or "sales", because white people are the majority of the paying consumers, and white people are the ones that control all these entities that funnel black artists mainstream (ie, Billboard, record labels, etc).
So if the conversation is about sales or charts then it is relevant to bring up how White America is beginning to distance themselves.
Hip hop isn't "dead" though, because NBA Youngboy, a guy squarely of the modern era of hip hop, is selling out arenas on a 42-show tour at present. This is also a guy who had lulls in his output several times due to legal issues, yet people still want to see him. So he's a clear example of how hip hop isnt dead, but he also has an "it" factor....most people don't have that, regardless of era.
I think it could be a net positive if hip hop continues to lose "market share", for lack of a better word, in the mainstream.