There is still a lot of work to be done and I don't think we're ready to give up just yet.
We're right on the cusp of perhaps the best Dust 514 has ever been and if we can just hold out long enough to make it there, there is a very real possibility we might be able to turn things around. However, there are a lot of things we could also be doing better.
We need long-term planning as a priority. CCP is doing good on the next few months worth of stuff to fix up but we don't know what will happen in the next few years and I think we need to look toward that sooner rather than later if we want Dust 514 to be continuous. We definitely need to look for opportunities to introduce additional content, such as Post Level 5 Content, or (and I'm strongly against this) ways of reducing the speed of progression as there are some players who are already near 100m SP by now.
That's just on the Dust side of things though and the long-term movement needs to centralize on longevity. The only way that will happen is we move to PC or next-gen consoles, because Dust 514 -cannot- survive with any longevity on the PS3.
If there is a long-term plan in motion, we haven't heard anything about it in the general community, which means that there is a short-coming on the communication side of things and the next CPM could continue pressing for greater transparency between CCP and the community as a whole.
Along the lines of transparency though we also need things like CPM Summits and meeting minutes so we, the community, can stay informed as to what is going on instead of being left in the dark. "The CPM has been instrumental" isn't good enough, IMO. The next CPM is going to have to press for that as I think it's a bit late in the game for the current CPM to do so.
Another thing is that the CPM is our key to getting better community interaction and tooling as a whole. Stuff I've been advocating since day one such as API support for third-party applications (imagine being able to just copy/paste your character API into Protofits instead of having to manually set each individual skill) and what I attempted to do with the Planetary Services Department. That isn't to pat myself on the back, the PSD was something we needed I just don't have the energy to manage it by myself anymore what with work and college.
So, yeah, there are a lot of reasons to run for CPM. The PCU might be at an all time low but I don't think any of us are ready to go without a fight and the fact that we're even having CPM elections for a second CPM roster is a sure-sign that we're still in it for the recovery