Interview with Anders Sandberg (co-author in the cited paper) making clear that he thinks there's still almost certainly life out there even though the estimations are pessimistic: https://futurism.com/life-universe-scientist-drake-equation-...
In future, spacefaring civilizations will use something other than broadcast EM fields to communicate. Maybe soliton lasers through the interstellar plasma. Maybe highly encrypted light bursts that are actually indistinguishable from noise (like, you know, the internet does now). And our chance of intercepting point-to-point signals depends entirely on our planet wandering into the path of one of these signals (if they were so stupid as to even send it where they knew Earth would be later). And recognizing it as a signal. And we're way out on the edge of things, so not actually between anybody and anybody else.
Maybe, its a silent galaxy because nobody is talking to us.
I find it more likely that the speed of light is the great filter and that interstellar travel is so difficult that the rare instances of life are unlikely to leave their star system never mind their galaxy group (which would require faster-than-light travel).
The thing to keep in mind about the Drake equation is that the last two terms of it, fc and L, concern themselves with 'detectability'. I didn't have enough stamina to mine the treatment or modeling of these two terms from the paper, but relative to the entire universe the number of civilizations of our stature that we would plausibly 'detect' through spurious emission or environmental impact (aka transit spectroscopy) would seem vanishingly small. Detection of a civilization outside of our galaxy would likely be limited to Kardashev Type II and greater civilizations that are intent on making contact with ours.
So, if you find a way to squeeze the word 'detectable' in the title, you're probably closer to the actual findings of the paper (even though the paper itself seems to lose track of that term).
Also, text will be much cheaper to send over that distance, so think telegrams not telephones.