The above is the full shabad from SGGS 488.
If you read the whole of it and take the particular line
ਜਿਸੁਆਸਣਿਹਮਬੈਠੇਕੇਤੇਬੈਸਿਗਇਆ॥੫॥जिसुआसणिहमबैठेकेतेबैसिगइआ॥५॥
Jis āsaṇ ham baiṯẖe keṯe bais ga▫i▫ā. ||5||
That seat, upon which we now sit - many others sat on it and have since departed. ||5||
You will then understand that the seat being referred to is the worldly seat. It is true that when any of the mahapurash come to the world, they occupy a seat which had already been occupied by someone else. The seat which once Guru Nanak Dev ji occupied was passed on to Guru Angad Dev ji and so on.
However this does not mean that Guru Nank Dev Ji does not have any seat any more as per your translation or understanding of the line.
Nothing in this world stays --- even when the Gurus came they had to depart. This is what we are being made to understand. Whoever comes will go.
However there is a seat in heaven which is never lost - for all these mahapurash.
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