  We present new, late-time Hubble Space Telescope and Spitzer Space Telescope
observations of the archetypal supernova (SN) impostor SN 1997bs. We show that
SN 1997bs remains much fainter than its progenitor, posing a challenge for the
canonical picture of late-time obscuration by dust forming in a shell ejected
during the transient. The possibility that the star survived cloaked behind a
dusty, steady wind is also disfavored. The simplest explanation is that SN
1997bs was a subluminous Type IIn SN, although it is currently impossible to
rule out the possibility that the star survived either behind an obscuring
dusty shell $\gtrsim 1 M_{\odot}$ or with a significantly decreased intrinsic
luminosity. Continued monitoring of the system is the most promising means of
ultimately resolving the question.
