Google said in its Google Webmaster Twitter account that diminishing traffic of a backlink does not lower the value of that backlink in the eyes of Google. That was the question and Google said no, it does not lower the value of that link in terms of its link signals in search.
Here are the tweets:
No to both questions.
— Google Webmasters (@googlewmc) October 28, 2019
This is a similar question to what we covered about two years ago where Google said links from high traffic pages aren't more valuable.
I mean, you might get more clicks on those links but in pure SEO signal terms, there is no more value.
Forum discussion at Twitter.