What really happens if you stop publishing fresh content?

I have a couple of review sites that are 5 / 6 years old, 1 has had no fresh content since 2013 / 2014.

You are bound to lose ranking and some traffic if your competition is super active with fresh content.

I do think it's important to keep your visitors coming for fresh content. I'm not taking about rehashed trash, but content that is insightful and hasn't been covered anywhere else.

I keep seeing lots of sites with low quality articles on blogs added daily for the sake of having fresh content. This is not important, the important thing is to have informative articles related to your products/services/niche which can get you traffic, after the last update you can see how all amazon websites was slapped by google for buyer intend keywords: "best x" "x reviews" and so on. The bottom line, you better add 1 content// month that brings value to users/visitors than adding every day, cheap content that no1 wants to read

There could be a possibility of ranking drop and traffic loss.