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For better or for worse (I think to some degree, worse) I've found Slack has eliminated about 90% of my email use at work.

My work email is almost all automated emails, communications with people external to the company, and a small percent of internal communications. Nearly everything else is done over Slack.

So in my experience, it certainly is replacing email. Now, I'm not sure that it should. But it is.

At two companies where I have worked recently (IBM and a small startup), Slack quickly displaced email. Email was hardly used in either organization.

For me, Slack has completely replaced internal email. Email is now almost exclusively for external communication and endless newsletters.

Can't speak of other roles, but at least within tech/dev teams I have encountered Slack has replaced email almost 100%.