C++ is really long in the tooth from a language design and tooling perspective. In that sense its due for disruption. So yes, it seems like C++ is on the way out.

On the other hand, Rust is not a strict upgrade. In game dev, runtime performance and iteration time are priorities. Safety is secondary. Rust isn't gaining that much ground in games because Rust appears to be unnecessarily burdensome. Async is especially useful for UI and game-thread style programming and that seems to be a weak spot of Rust as well.

There's still room for something besides Rust to steal C++ market share.