How have things changed in your experience? Are you still using Bandcamp?
I've purchased several things recently and been very happy with it, although discovery could really use some improvement. However I've noticed a lot of newer music from bands that are on Bandcamp isn't on Bandcamp.
Are artists starting to leave the platform?
At least in terms of metal, the primary genre that I browse in Bandcamp, I've found the trend of record labels having a core Bandcamp page that acts as a hub and collects all of their releases is becoming more common.
Examples:
https://listen.20buckspin.com/
https://i-voidhangerrecords.bandcamp.com/
A lot of these bands might have older Bandcamp pages exclusively for them, but a lot of their newer releases are released and can be purchased only from that hub label page. I don't find it too annoying; it actually makes discoverability better for a lot of bands I might never find. A downside is there can be these older band pages that have no updates.