If you think about it, the end was foreseeable since nothing really helped.
- They tried to rework the game with Homecoming, when Beta started to get mostly negative feedback after investing a big amount of money (with a big team, expensive lan locations and so on).
- They introduced a more or less free2play concept together with beautiful ingame cosmetics to draw in both free2play and money spending players.
- They tried the mobile section.
- They tried to advertise the game (according to Burza, it didn't work out)
- They tried arena and draft as additional mode and income, it was a disaster.
- They tried creating other games built on Gwent's mechanics like Thronebreaker and Rogue Mage. Both games had really disappointing figures.
Nothing really worked to attract enough people to keep investing into the game going forward. It's really sad, but at least we can't blame them for not trying.
Source: https://www.reddit.com/r/gwent/comments/zcoabu/cdpr_tried_more_or_less_everything_to_keep_gwent/