It's still published, I get a print issue probably every quarter, yeah. I flip through really quickly before it gets tossed in the recycling bin. Sometimes I flip quickly enough that it doesn't even make it into the house before it goes to recycling.
It used to be great, then turned into kind of an airport magazine (you know, the kind you'll read on the plane but not subscribe to), and after it got bought out it's garbage now (see above: I mean this literally). Personally, I'm extra miffed that they took Trail Running magazine with them.
Why do I continue to subscribe? Because along with Outside magazine they (I forget who "they" are, exactly) bought the Gaia GPS app which I use extensively. So I'm basically buying the Gaia subscription and get a shitty print magazine thrown in for free (oh, yeah, and access to their online edition, which redefines "garbage". It's awful, I could spend pages on the topic.) I am currently reevaluating how much I really use Gaia GPS, and what a suitable alternative would be. In many cases, Footpath (an HN user creation, IIRC) might do the trick.
I mistyped Outside in my comment. But now I went to check my recent magazine arrivals and it turns out I also have a print subscription still. They're happy to send it to you for free because then they can publish higher subscription numbers and get more money from the advertisers who are the only ones funding these things now.