Postums talked about this a bit on the Discord. Historically, it's a playlist everybody asks for but nobody seems to actually play. Hope it gets in eventually but I get why it's not.
Sure I've seen that over the online life between H2-H5. My issue is so much is based on the quality of maps and focus on bomb/flag from the developer. When was the last awesome asymmetrical map designed purely for flag or bomb with light vehicles and executed to the standard of Halo 2 or 3? Maps like burial mounds, relic, zanzibar, ascension, ivory tower, high ground, ghost town, longshore, headlong. Now move into the symmetrical objective with light vehicles such valhalla, avalanche, waterworks, containment.
There is a population skewing element of other objective modes mixed in with map designs in games past Halo 3 DLC. Reach/DLC, 4 & 5 all basically abandoned developer designed maps for flag/bomb or had poor quality and game outcomes. Variants of MLG oddball, territories, DLC requirements (tempest etc) all point to a downfall of flag and bomb modes/maps. Players and population never really left IMO, the quality and dedication for flag/bomb left and it's reflected in what people want to play.
Also factor in ranks went all slayer and MLG based after Halo 3 DLC dropped, again objective simply wasn't given the care or spotlight as it once had. Social aspects of objective were a joke, here you had parties mixed with randies and teams of objective 50s griefing social constantly. Again developer led mistakes not a player population issue. Cause and effect. So devs with Bungie & sprinkling of 343 mixed playlists. Ugh, slayer players/parties don't want objective games and objective players/parties don't want slayer games. So slayers quit objective games and reflect that in frequenting dedicated slayer playlists. Objective guys stick it out in a mixed playlist as they simply have no other option.
I don't argue that slayer isn't insanely more popular but objective when done right is the pinnacle of Halo IMO.
Once again I harp on matchmaking toggles, regardless of population being low or medium pure objective players/parties can play what they want. The net result in matchmaking overall, as most will simply use default all on, is little effect for the masses. However players not getting to play what they want actually get a say in waiting to play what they choose.
You want Halo to be popular again? Make great maps and modes that players can load up at a time of their choosing. Don't force feed best guesses or assumptions that developer based playlists create.