KF 2 is not dead. These stupid threads show up all the time, and I've never seen one that held any weight. I've put in 100+ hours already and have decided to wait for a dev update to avoid burning myself out on the content that has been released. (Just like several other users who have posted in the past 8 pages.) After all, we have 6 more classes and maps on the way and I've never been afraid to wait for what I want. I've got a full Steam library with which to laugh at long waits over one particular game.
For me, it boils down to this: If we were waiting for a developer like EA to finish KF 2 I'd already be long gone. After all, we're all welcome to wish for miracles, but sometimes what's the point? Luckily, Tripwire is at the helm and have thus far done nothing to violate my capricious trust in developers. I trust them to do their jobs and release a fun game - when it's ready. Til then, I've got 40 more Steam games I can install and play. And we're hip-deep in the Summer Sale. Do the math.
TL;DR: Game's not dead, but in a developmental cocoon. Stop being fatalistic.