Is a bit drastic, its very low pop but I still have some hope that F2P will bump it up a bit (I may be insane) also all the concerns are really only to do with PVP, this server still has several PVE guilds going strong and enjoying the game, of course it could always do with more players, but if your single activity focused and its not working out that doesn't mean the whole server is dead/broken.
If and when they offer paid xfers I would think Dalbora would be the best choice at first to at least try and keep our tasty pings, xfering to a US server only as a last resort.
As much as i understand that PvE is still functional on Master D..it's not just the lack of a PvP pop that is ringing the death knell...the GTN is almost unusable to find matts in particular for things such as Plastoid and Bronzium...high level armourings are rare as and the list of things that you can't find there goes on... low population causes other things to happen not just low pop. As noted most of the PvP'ers now have alts on servers that they will likely be going to when transfers become available...and when they do...ALLLL those main characters will be gone from the fleet for good. If it's not dead now, it will be then and it's not if, it's when. So yes, it's dead... it's on life support now with the machines giving it a pulse and breath ..with people logging in to do their dailies...and of course you will still be able to PvE ...but as a fully functioning server..it's dead just waiting for them to pull the plug.