No. Hearing is, unquestionably, absolutely, no argument whatsoever, qualitatively BETTER then not being able to hear. A hearing person has a strict superset of the abilities and experiences of a non-hearing person. If a deaf person had my hypothetical 100% hearing restoration device fitted, but still wanted to do the things they did while deaf, nothing is stopping them - maybe my imaginary device has an off switch. But, when that switch is off, they will never be able to hear their name called from across a dimly lit room, or experience the full gamut of orchestral music , or many other things. But they can still use sign language, or write things down on paper to communicate, and so on. I agree that there's more to be developed in terms of CI type technology before this becomes a reality, and there will absolutely be a period of learning and adjustment.

It is unrealistic to suggest that most deaf people would refuse an operation to have their hearing restored. This is just as crass as suggesting that someone who has learned to live a full life with a prosthetic leg would turn down the (hypothetical, futuristic) opportunity to have a brand new biological leg...