Isn't the main alternative LQG which is apparently a dead end?
No, science is not the act of publishing in a peer-reviewed journals, science is using past observations to make models that predict future observations, and then evaluating those models after making the future observations. Peer review is just the industry standard quality control mechanism.
The problem with String Theory is it unfalsifiability and that it has not even grown to explain 3D phenomena AT ALL. 40 years later.
Quantum Mechanics and Relativity (both special and general) gave results in a single decade.
String theory is as far as I have ever read the only thing even close to a working theory in this area. That doesn't mean it's correct but in my admittedly limited understanding of the literature many alternatives are either dead or are similar to string theory only without the underlying principles.
People do work on alternatives. there are a lot of smart people unhappy with string theory they just can't actually provide any alternatives.
One thing I'd like to say as well is that if someone does provide an alternative there will be a large movement of minds. This always happens in science, people like to think of physicists as a kind of unionized cabal but this isn't true historically or today as far as I'm concerned. Certainly not with the physicists of tomorrow.
As far as I understand it, string theory has yet to provide a working model of quantum gravity despite focused work on it for ~30 years. That's not exactly a ringing endorsement.
Plank explained the black-body radiation.
Einstein explained too many things to say but predicted the precession of mercury which was unexplained.
Witten has explained either everything (which is to say nothing useful) or nothing at all (it depends on your position). In any of both cases, after 40 years and several LHC unfulfilled “expectations” it is time to accept the facts.
For example my understanding of string theory is that Lorentz covariance must be exact, if you find this is either inconsistent or not true in reality then you have cut ze string.