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A failing or gradual loss, as in popularity, character, power, or value; deterioration.

A decline in something or someone who was previously powerful, influential, or popular, preceding a fade into obscurity and irrelevance.

A post "jumping the shark" wane in popularity.
Good god! Britney's career has really Fred Dursted, hasn't it?
by Sheikh al-Gore September 20, 2007
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2
To have been only marginally worthy of attention to begin with, but currently to be thoroughly uninteresting, except as a contemptuous joke.

Yahoo! News and Urban Dictionary have both drawn attention to International Talk Like a Pirate Day this year. I think this thing has Fred Dursted.
by Murderface September 19, 2007
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