Some people really think it is, that's why they panic, sell their coins and leave. However, I believe that this is just the beginning and it actually is, because altcoins are just getting popular these days. Do you know how many people use cryptos all over the world? Only 2% of world's population.
There was a time when the internet was there, and now it has exceeded 50% but was a big revolution back then. Internet also had the same problem as cryptocurrencies have now: trust.
So it will take some time until people realize what they are, how they work and why they are so beneficial. Internet went through the same process. I remember my father was doubting whether to buy internet services or not, because it was not a necessity for us ten years ago, but now people can't live without that. The same will happen to the cryptocurrencies in the future. People will not be able to avoid using them in their daily activities.
Thus, thinking that this is the end of cryptocurrencies will be a major mistake, because I believe there is no end to this market. It will just grow more and more and more.