I can't say. My channel has been a bottom feeder for so long, I rarely get any different views unless it is an increase.
All I can say is that an algorithm might have changed, how your channel is being put into search and suggested areas of YT. Can you tell if it is low views with subs or the lower views with discoveries?
Even though I now have over 13k subs, 99.4% of my viewership comes from discovery. Only 0.06% of my subs ever watch my videos. I have the least loyal subs in history. One wonders why they even sub at all. But to be honest, it has to do with my content. My content is an answer to a question. If you don't have the question, there is no reason to watch the answer. So, unlike channels that produce broad-based content that is for the amusement and entertainment of the masses, my content focuses on specific issues.
So the loss of views is in discovery. I know this. The question is, Why? For the past seven years, July, August, and September have always been growing months where I recover from the January cliff. But now, I have seen a greater drop than what happened in January. I am losing an average of 1K views a day from my monthly average, and it is not slowing down. The only thing I have done differently is that I produced some YT Shorts back in May and June. That is it. Outside of that, I have done nothing. Well, I am not making as many videos as I did last year, but that is normal for me in the summer. Last year I put out fifty videos. This year I am on track for about 30 full-length videos (not shorts).
I have found some other Youtubers that are seeing the same thing, so I don't think this is exclusively an issue with my channel. I have three channels in different genres (one gaming), and they are all seeing a similar downtrend. YT is doing something. I know they were pushing Shorts really hard earlier this year to try to steal some steam from TikTok, but that appears to have died. I am not sure what is going on right now, but I am sure it will eventually come to light.