Difficult to get running on recent distros/kernels. Borland seems to have been concentrating on Delphi.NET and C++BuilderX to the detriment of their other products.
It might have a future, but Borland appears to be heading towards wxWindows rather than Qt for the underlying toolkit (C++BuilderX doesn't have a RAD GUI designer yet), so a new Kylix could be quite a rework.
I suspect C++BuilderX will eventually become the replacement for Kylix.