Killing or Dying : Google Adsense

Google Adsense, the world or should i say the internet's leading advertising agency. A lot of Websites - or should i say majority -  on the web make use of Google adsense as a source of monetizing their websites or blogs. Over the last years, since its inception, Google adsense has actually made bloggers and website owners have a bigger problem.. The problem now is that they have gotten stricter and its pretty much harder to get into the program, especially blogs.. This brings me to the question...

Is Google Adsense killing bloggers or is it Dying?

What i mean by the question posed above is that due to frustrations brought about by disapproved applications into adsense, is it making bloggers change their minds about blogging (killing) or is it losing new markets to other advertising platforms like Addynamo and the likes (dying).

As a blogger, after reading multiple posts on how to get approved by adsense and basically doing everything - except using a top domain, which i would be doing after the AtoZ Challenge -.... i am still being disapproved. If not for my passion, i would have probably stopped blogging like other money-driven bloggers would. 

This question is really on my mind  and i would like to get answers. Your opinion is highly needed..