I certainly hope so! Airlines funded by Dictatorial regimes were modern slavery is still in practice. Capital punishment for gay people and basically no form of human rights.
but to answer the question: nope. Its geography in combination with cheap labour, cheap “loans” etc will make sure the ME still has a future. Maybe not in its current shape and form and maybe the unmentionable will be merged into EK but we have definitely not seen the end of the ME as a hub. Insh’allah