We had an earlier discussion about it in this poll thread
https://www.physicsforums.com/showthread.php?t=191373
Liger20 said:
... So my question is this: has there been some kind of development in the past few years or so that has uncovered some kind of flaw in the theory?
Well there was a major development in January 2003 with the appearance of the so-called KKLT paper----which indicated that string could not tell the difference between millions of alternative versions of physics. The number one hears estimated is usually 10
500 alternative string vacua.
this paper had a major impact. It is the most highly cited string paper from then on (more references to it in subsequent research journal articles than to any paper written by string theorists since).
there was also a highly-cited followup paper by L Susskind trying to make the best of it by imagining that each one of this huge landscape of 10
500 versions actually exists and we just happen to live in the one we do, which has conditions tolerable to us. The Susskind paper caused a lot of dissatisfaction and uncertainty. since those 2003 events, there has been a decline in string research output and a decline in the amount of citations string papers get.
(string theorists are writing less and they are finding less worth citing in each other's papers).
So there is internal evidence of a decline in the field, which may be temporary. It is not all traceable to KKLT. In fact several indices peaked around 2000-2001 and have been in decline since 2002. But the KKLT finding was kind of symbolic or symptomatic of the problem as a whole.
So you find that some leading figures, including very talented people, have gotten out of the string field----while others stay in the field but are noticeably less productive. This might have no longterm meaning---it might simply be a temporary doldrums or some kind of cyclic behavior---but it is observable.
It has very little to do with the books of Peter Woit and Lee Smolin, which did not appear until 2006. Whatever had been happening had been going on for several years before that.
Anyway in answer to your question, YES there has been "some kind of development" that can help to explain the impressions you have been getting. A simple way to designate it is to refer to the 2003 KKLT paper. The letters stand for four Stanford string physicists Kachru, Kallosh, Linde, Trivedi. Susskind is also a Stanford string thinker. So the whole thing is intimately associated with that one place. It's not a full explanation but it's something you can get your hands on.