If you mean "new options from a different group", then yes.
If you mean "Minecraft has gotten stale and this will pep it up", then no. Minecraft has a very health and active modding community that has really been exploring new directions lately, and the non-modded Minecraft has been continuing to push new options and directions for some time.
> Is this Microsoft making an attempt to make the Java edition obsolete?
I expect they don't have to "attempt" so much as just let it decay because they'll have a lot more non-Java resources. As much as I've trashed MS in the past and as much as I thought the Minecraft buyout would be bad for Minecraft, MS has really been a decently-behaved corp citizen in software of late and developments like this mean that while they might under-support the Java Edition, they'll continue to support Minecraft in some form as we've come to expect.