Sure looks that way.
It used to be possible to go on holidays to Lanzarote, Salou and Majorca.
Following Falcon's departure, if confirmed, the only operator at the airport will be Ryanair and the only summer destinations will be Faro and Alicante (once 7 months of the year now only 2).
Unfortunately Ryanair seem to have lost interest in the airport in part no doubt due to air passenger duty differential with other airports in Ireland and have even pulled a summer route to Tenerife rather than expand from the airport.
Whatever about new management and talk of route development, the future looks grim from here.