Edit: if you look at https://satellitemap.space/ now, the number of sats has been going up since march, but the number in service is shrinking, probably due to shutdowns exceeding replacement launches.
Launch capacity has kept steady since 2022, and so has life expectancy. We're coming up on the end of life for the first sats, so it's likely the total number has peaked, and will now drop to a steady state.