Well, having the first game of the series cannot define by any means that a series is dead. At most, it defines the parent company is completely and utterly out of ideas, and is looking for more money to produce, but since they're looking for more money, that means they're at least kicking.

Basically, the OP responded to a D0O0O0O0O0O0O0O0MM!!!sayer, who probably doesn't understand what's happening with the series. Compare to, say, Breath of Fire, which is for all purposes dead (the closest thing to a lifeline was having one of the devs in MvC3 insisting that Fou-Lu would have been a cool appearance AND eventually the card things), and you can figure that Final Fantasy is far from dead. Given how they're rebooting FFXIV...