Fossil didn't particularly impress me with their smartwatches, so a sales decrease doesn't surprise me. I had a Skagen Falster 2 (a Fossil by another name) for a bit and it was annoyingly slow with not enough battery to leave the screen on, and eventually did the Fossil thing of the time where the back falls off the watch. I replaced that with a Fossil hybrid HR as I was chasing something more like the Pebble Time Round I liked before its battery lost usable capacity. I liked the concept and battery life of the hybrid but it had a horribly slow interface (galling to me since Pebble had shown you could do much better with e-ink), the e-ink screen ended up fading, it kept getting moisture inside the face, and as a last straw Fossil decided to be a dick and remove the left handed button mode.
I ended up getting a Fenix 6s about a year and a half ago and I think it's about as close to a Pebble successor as things get these days. I get a comfortable week out of the battery, and a responsive e-ink screen with the basics covered plus a few more fitness related things (and a party trick of topo maps) the Pebble didn't have. I don't feel like it has quite the community support that Pebble had in terms of software (or the enabling thereof from Garmin), so it's not 100% the same but it's been working well for me so far.
Unfortunately yes. They do put some models on sale occasionally so if you want one it can be worth waiting - I got mine at close on half RRP which made the cost somewhat more palatable.
It's Over for Fossil Smartwatches (www.droid-life.com)