I don't think it's due to the slew of new games. It's due to no competition.
I've played every blizzard title online competitively, some professionally, and while many games come out in the years in which I was playing a blizz title, I still mained that blizz title. This is because there's a player base, no bugs, competitive ladder that works properly, and every patch brings MAJOR change.
For example, we had new heros in frozen throne after a patch, changed the game up. From frozen throne 1.2 --> 1.3 all they really changed was adding dmg + hp to the tier 1 night elf archer, and boosted beastmasters stats, this made everyone change from massing huntresses with KOTG to massing ranged with the beast master, this was a loooong time ago, and it wasn't the most balanced patch considering NE now raped orc but that 1 small changed made everyone change their heros, build orders, creep patterns, army compositions. That made the game more fun. Every patch is like a brand new game in that strategies that worked before are no longer as effective and new strategies come out.
I stopped playing this game because it's the same thing every game, added to the fact that most people you play have no idea what the hell they are doing. So what takes you 50 games to master every character in the game, someone else is 800-1000 record and still play's beast like a scrub. Although hearing the announcer yell GOD LIKE (quake 3 arena rip-off) is fun for a while, the self congratulations get old after a while and you just want a challenge.
And for those of us who are skilled, no one will play in your games anymore. No sense waiting around for 40 minutes to 2 hours for a game (2 hours, don't believe me? go read "the overlay is ruining my life") that is going to play the same way, on the same map, vs the same demigod's against some beast who's going to spit on you, chase you past a tower, then die like an idiot. Or a reg who tries to snipe you IN YOUR FACE, or a queen of thorns that doesn't get bramble shield and tries to tank your melee dg's, or an erebus that doesn't buy priests, or an oak that doesn't get shield 3, penitence, surge but 3 v 1's your team like he's John motherfucking Rambo. Or a rook that tries to 1v1 your tower by walking PAST a flag that YOUR team controls lolol. It's a fucking joke.
Also, the game is MEANT to be played with premade vs premade. The game is so much fun when you can coordinate properly, use synergy with the builds between your ENTIRE TEAM. Not just 3 guys pick 3 builds and just "wing it". You can control a lot of aspects of the game using strategy and unit placement, item purchases etc. But no one wants to play a premade and everyone is too fucking lazy to make their own. All you need is TWO other players VOILA! you have a premade! Incredible right? DiceareEvil and morpheas comprise my premade. Dice is my friend in real life, who got me onto the game and told me to buy it, he also showed me how to play at first. All he did was draw parallells between this game and warcraft, I became "pro" in a matter of weeks, less than a month. This game is basic. starcraft is chess, warcraft is checkers, demigod is tic-tac-toe. Morpheas was just some guy I met while playing over the course of my first month or two. He was always online when I was online, so I'd always ask him to game, we just clicked.
And don't use that "I don't want to play people who have voice" excuse. Morpheas doesn't even have a mic, and me and dice use our mics to laugh at the stupid shit you do on screen. If you play me dice and morph, and you die, morph has no mic and is saying nothing, and me and dice are laughing at your poor decision / our great move. After enough games you don't need to talk, you know what your ally is doing and what's going on. Good players will have map awareness, it's not like because I have voice I can be like "OMG OUR PORTAL AT LEVEL 10 PROTECT IT!" it's more like, everyone on my team isn't fucking braindead and realize we need to cover it. So we just ....... do it.