Glad you bring this up.Aren't there other parts of our body that can fight the virus as well as the immune system? Also our immune system as a memory so can remember how to react to the virus if caught again.
The antibodies tested are produced only by end-of-a-chain stimulated B-cell lymphocytes, called 'plasma cells'.
As well as direct action cells there are 'memory' parts of the body, as you mention, and these are called 'Memory cells' which are also part of the adaptive immune system, which involves many white blood, lymph node and the spleen cells lines of the T-lymphocyte series like helper and suppressor cells (T4 and T8), Natural Killer cells and monocyte cell lines. These are only some of those identified and this list is extensive and increasing all the time.
All these latter types are not detectable by simple antibody tests, and are the sort that help mount attacks on subsequent same-virus infections.
These are the ones we rely on with vaccination programmes as they are involved in the memory part of the immune response.
So the reducing population antibody study result is not to be confused with any vaccination effectiveness.
It has been mentioned here before, but I think it is worth highlighting that vaccinations are designed to provide a wider specificity and longer lasting immunity than a single infection by Covid or any other virus does, and this is somewhat similar to, and is confirmed by the Health Care workers having a stronger and longer lasting antibody test result due to multiple exposure, than the general population. Those that survived, that is.
Many health workers have died due to this repeated exposure, as did transport workers, amongst others.
Makes me glad I reached retirement age before Covid appeared!
(I did work through MERS, SARS and Ebola, and the London Underground and Bus bombings, though.)