The realm is fine and it is without a single doubt the best 4.3.4 private server you can find. In my opinion, people just got tired of the lack of updates on Cataclysm, but it's also not that much needed. Realm works well, most people think everything is broken yet no one even takes the time to play. I suggest you to play Neltharion and see by yourself ; don't listen to people that, anyway, aren't even playing here anymore.
All we need is people. That's literally the only thing. Neltharion can live with very few updates. Warmane should give us more advertisement at the moment. It would be the best thing they could give us. Updates aren't needed right now ; only players.
Everything I said here is obviously my personnal opinion and is up to debate. It is from my point of view : I started on Neltharion the very first day it opened and never stopped once.