Fall Guys is a formerly beloved gaming franchise, but with time, the game has declined in popularity significantly and become a disgraced gaming franchise. This is an issue shared by many games, as well as political leaders. And like political leaders, some games will end up taking drastic measures to up their public popularity.
Thus, Fall Guys has come up with a solution.
The game has officially gone free to play. The Fall Guys team seems to be hopping onto the free to play + battle pass model that many other games have gone with in recent times. Fortnite, Rocket League, Halo: Infinite, Call of Duty: Warzone, Valorant, and probably several others that I haven't mentioned are all examples of games with this model.
This will surely result in a resurgence in the game's popularity, since people like free games, but people also don't like the Epic Games launcher, so it's a two sided coin. Whether anyone is still playing this game in a matter of weeks is an issue that will only be answered with time.
If I had to guess, I would say that Fall Guys will fall back into irrelevancy, probably by the end of the Summer, but I would love to be proven wrong.