No, it isn't.
I've still got one and use it frequently. And you're correct in that the tech companies are pushing all glass cockpits really heavily and I'm sure the Fascist Anti-Aviation Federal Aviation Administration will cave into their corporate masters ultimately down the LORAN system as they've promised in favor of GPS. But for now, at least, LORAN is most definitely not dead - it is still used by the major carriers in addition to GA.
bcnu,
Mikem
Eine Leute. Eine Welt. Ein F\ufffdhrer.
(Just trying to be accepted in the New America)