Unfortunately yes, I was able to download the app via the internet and can still use the cam. LG should have been more customer-friendly!

Unfortunately, yes. The app and the connection directly via Bluetooth no longer work. But taking photos directly with the shutter release on the device still works. Reading out photos via USB or directly from the memory card also works. It's probably time to replace the thing.
It's really stupid how LG went about it, but the company hasn't really been up to it for a few years anyway.