You are not missing the obvious. There is currently nobody from Google communicating about Panoramio. The on multiple levels, the leadership of the Google geo products (Google Maps, Googe Earth, Panoramio, and even Views) has all moved to other projects, and there is no clear information on anyone being in charge. It is not clear that at the next level up, that they even know that Panoramio exists.
I don't think Panoramio is on life support. I just think that we are lucky that most of the pieces have not totally failed yet. Those pieces that have failed in the last 10 months or so have not been fixed.
Tom C.