BP is essentially on deep hibernation. There is a slight sliver of hope that one day, there will be new BP, but neither I nor anyone else on the team can honestly say when that will happen.
But it is not dead. For all of us, BP is a labour of love, a point of deep and lasting pride, and a cornerstone of the relationships we made while making it. Speaking for myself only, I count the members of the BP team as some of the longest, truest friendships I have ever made. I cannot watch Icarus without having deep emotions, despite how cheesy the music choices are. The discussions that take place here, or on discord, or even in real life for some of us, where we meet someone random who by the purest of chances happened to play this silly little fanfic of ours and who took enjoyment and long-lasting fascination from it are some of the most rewarding interactions we have.
BP is asleep. It may wake up one day, unforeseen and sudden. It may not. But as long as there are people enjoying it, it is not dead.