It's still kicking, but barely, the new owners shitcanned half the staff day one, so while the site is still there and you can currently still buy music, long-term prospects aren't very good. Songtradr are just money-men, they don't give a shit about music, here's an example.

https://www.sfgate.com/tech/article/bandcamp-bargaining-union-layoffs-songtradr-18432047.php

Songtradr, Bandcamp’s new owner, wrote in its announcement of the acquisition that it would offer artists the choice to have their music licensed to content creators, game and app developers, and brands. The firm advertises its ability to provide music to TikTok, for example. For the tech company, which has raised over $100 million from investors, Bandcamp is the latest in a long string of acquisitions, according to TechCrunch.

Songtradr’s editorial blog has marketing-focused articles with titles like “Rock Music is the Perfect Condiment For This Fast Food Brand,” which goes on to methodically and statistically analyze the music in Taco Bell ads. Bandcamp’s most recently published feature, on the other hand, is titled, “Imperial Crystalline Entombment, Black Metal Mysterians, Break the Ice.”