Babylon's Fall peaked at 700 players on its launch day.
PlatinumGames and Square Enix seems like a combination that could do no wrong, but ever since Babylon's Fall was originally unveiled, it's had an incredibly lukewarm response. Although there was always a chance that it was just pre-launch fears, it seems like that response has carried over all the way to its launch, as it's seen a very low 700 players on its launch day.
As reported by VGC, SteamDB data shows that the peak for Babylon's Fall on its launch day, March 3, was 602. That number fluctuated throughout the day somewhat, eventually falling to below 400. Interestingly, the Twitch numbers for Babylon's Fall were in the thousands, which still isn't great, but implies that many players were simply wanting to watch the game instead of committing to a purchase.
That number has increased slightly over the last 24 hours, with that peak now hitting 1,073 players, while Twitch viewer numbers are dropping to as low as 200. It's possible that the number will continue to grow over the next couple of days, but it's still not a great start for a game focused on live-service play, and an increase of 400 players still likely isn't the sort of numbers that Square Enix is looking for.
For comparison's sake, Elden Ring's player count peak was 891,638, which is a massive gap. That peak is pretty close to the number of players still playing the game right now, too. It's entirely possible that the recent release of Elden Ring has had an impact on the number of people playing Babylon's Fall, but the reception to the game both before and during its launch show that it can't just be blamed on that.
It's not just the player count for Babylon's Fall that's been low, as review scores and impressions have been incredibly negative as well. We reviewed the game at launch, giving it a 1/5 and saying that it's "a poor attempt at a cash grab that doesn’t even get that right".