Microsoft has never made an official announcement reversing this, but thousands of users (and our own tests) confirm that the activation process still works seamlessly. Microsoft seems to keep the servers running to reduce e-waste and keep users on supported operating systems (Windows 7 reached End of Life in January 2020).
Don't throw away that old Windows 7 sticker just yet! If you have a retail copy of Windows 7 gathering dust in a drawer, it can save you over $100 on a new Windows 10 license. It’s one of the best "secrets" in the Microsoft ecosystem that continues to work years after the official deadline passed.