This is still a very practical way to solve many problems and I'd wager for most programmers it's still the easiest way to do things. Maybe it will always be. It's hard to imagine there'll be a generation of programmers some day that finds it easier to compose dozens of tiny modules, chain callbacks with a variety of async abstractions, and implement as much as possible in tiny idempotent functions.
I feel like the worst case scenario for Python is that it will fade into the wallpaper of mature and unsexy languages like Java and C++ that nonetheless run the world and will probably be around for another 100 years at least. I'm guessing Guido would be cool with that.