No! Salesforce Lightning Components (Aura Components) are likely to live on for quite a few years. I do think that the Lightning Web Component will eventually lead to the Lightning Component falling out of use. There’s a number of reasons for that.
LWC Performance Gains
Over the last two years or so, I believe Salesforce has replaced most of the base components so they are now built in native LWC instead of in Aura.
LWC Have a Better Developer Experience
Wrapping It Up
I believe it makes sense to take advantage of a lot of the advancements and switch to LWC instead of Aura especially because they work together seamlessly.