Over a million people joined Bluesky after the election and seem to be using it. Also a lot of news & media companies have moved over too. So I would assume that at least that many users have disappeared from X or their activity has diminished. On top of that all the bots have gone home now the election is over so the amount of activity must have suffered. And Bluesky is basically old Twitter so people are settling into it and liking it.
I would advise anyone who still using X to give it a try. And if they want to use X for whatever reason - uninstall the app, install Control Panel for Twitter into their mobile browser and browse that for a relatively bullshit free experience - no ads, no algorithmic lists, just what you subscribe to.
If you don't use Twitter then I don't see any reason to try Bluesky since it could basically be described as classic Twitter. But if you liked Twitter until it because a cesspit of far right shitheads, crypto bros, bots, and ads then give Bluesky a go.
Whether you move on to some other microblogging platform (like Bluesky or Mastodon) or just drop it entirely is a different question and depends on what content you care about. When you do check it, what do you check it for? Would you really miss that?
If it's specific accounts or personalities you care about, you could check if they have opened alternative accounts on those other platforms and let that inform your decision. If it's topics, I don't know enough about Bluesky's userbase to recommend it, but I know Mastodon's @FediFollows@social.growyourown.services has a bunch of topic-oriented curated lists.