its still going on aint it. Even though it might not be as "every weekend" with shows going on, but a look over to the gigs forum, there seem to be quite a number of events here and there, paid or free shows.
At least for free, there were shoegaze weekend, +65 gig at esplanade over the last 2 weekend.
is there any sort of gig which you are expecting, but didnt see it from the gig forum? Coz it seem theres still action going on, even if slower, it be a good thing perhaps, without over saturation.