I kinda agree. I think the problem shouldn't be about donations, honestly - I feel for a text based game, people have been more generous and giving then I've seen anywhere else; I remember back a year or two ago, the donation page was active nearly every day. Consider the difference between this, and the amount of donations most small software developers/programmers/enthusiasts and hobbyists get.
Also consider the time taken for any update - months in between, and its not as though there's little to add, there's heaps of things this game could use, and heaps of suggestions from an amazing and dedicated player base that would bring the game to a new level.
To be horribly honest - I feel as if there's no drive any more, drive that only new players could bring, and yes, advertisement revenue!
And even with new players, Bots4 requires investment. If you want to level consider this: most bots are either cash cows (extremely low ratios), experimental builds (<300 w/l, bad for farming xp), or built by players who've been round the block (e.g. with the optimal build/high ratio). There's not a lot of space for your balanced katanas, either you're going to get steam rolled, or you are going to steam roll. The point being, is that bots is an addictive game, but it's not the only addictive game, and others have development and a growing community (which includes actual newbs).