If you're asking the question the answer is probably yes (unfortunately).
Some people enjoy the social aspect, some people enjoy the game, some its a bit of both.
If its the game, I think it is largely dead, I mean there's a lot to do, much of it can be challenging and requires help from others, but chances are if you've been playing for a significant amount of time, you've done most of it. That said set a goal and go for it (make a crafting shield, prime weapon, get titles from master trials or w/e content.) May just trying to "solo" certain content you've cleared with a group (whether this includes trusts or not is entirely upto you).
If its the social aspect and all your friends have quit, you'll need to make new ones.
Finding a duo partner can be invaluable, and its great in that you can move from one event to the next quickly and just having someone to chat and joke with makes it all fun. Just a warning if they are not on it can be frustrating.
Similarly if you can find a small group it can help as well, don't be afraid to lead some newer players it can be rewarding. Also don't think that you need to do things daily, if you find a few folks you like and they're only available 1 or 2 days a week schedule stuff then (maybe don't even log in yourself the other days)
Joining a LS with planned events is probably the most efficient way to get rewards, although it can feel a bit robotic at times to me (i.e. almost like a job).
Maybe if you've run events and that's burning you out try and do something you can just follow along with (or if you've never lead events, doing so can be a new challenge).
But if you log in and are trying to do things that are time gated and you're not having much fun and not socializing, yeah its time to quit. That happened to me (largely because most of the folks I've played with over the years also quit) so I quit, I eventually came back, I've met a few people I like doing things with and the game feels fun now, sometimes just a break is needed anyways.
There are many ways to enjoy the game, if what you're doing isn't working and any new way to look at (as I tried to make suggestions above - but I'm sure someone can think of others) doesn't seem appealing there's only once choice left...