Arena FPS of the Quake/UT era have been supplanted by CoD-style tactical shooters, slower team-based FPS like Halo, hero shooters like Overwatch, and battle royale shooters like Apex Legends. I don’t think a popular pure arena shooter exists today. (Though Splitgate and, to a lesser extent, Halo Infinite scratch the same itch for me.)
I’m optimistic, though. Adventure games were dead for a while but eventually came back with a vengeance. I doubt the desire for quick, pure shooty fun will ever go away.