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S2 former-raids are probably more rewarding now than they were before, and arguably more rewarding than S3 these days. Still boring unless you do it on Hero, but at least the reward aspect is there and people still run it.
Ben Chenner also is not really unique battles. The story versions are all the same large map condensed, and the full run versions are not much different than Donegal missions other than they're longer.
They've been able to be crafted by tailors for at least a month. As far as I know wearing it doesn't actually give you anything though, and you certainly can't see it.
The game still updates, and people still play it. That's all you can really ask for at a bare minimum level. It'd be nice to have a much larger community like some other games but for the type of game it is it's in a pretty reasonable state. Like someone else said if you want to do a quick battle for the extra drop it can actually be hard to get all 3 of your friends in sometimes before a slot gets stolen. The only real downside that has come with the dwindling player base is that it's gotten a lot harder to find enhanced/enchanted gear actually for sale (what little gets made either gets boomed trying for something better or simply used).
Battleshade sounds more "anime" than Blute, if you ask me. Don't know why they kept the name Teide, which to the best of my knowledge is nothing more than the name of a volcano, but changed this.