I'm one of those people that answers this question, "absolutely not!" Even though it's not in the news or on everyone's Facebook timeline, there are amazing craftsmen still roaming the earth and passing their craft down to beginners. My evidence? I run a website that's dedicated to a traditional art called Pinstriping
http://www.pinheadlounge.com/ . Even though the legendary masters may not be directly connected to the site, you can clearly see their influences on the craft. I think it's careless to assume just because someone isn't tweeting their entire life or making huge waves, that they're not training the next apprentice. A lot of this work has always been a little behind the scenes, offline and a definitely has its share of trade secrets. I see many young people on this site doing killer work and this is only one, tiny sampling of the niche.
Take one of the most well regarded users on the site and an aging craftsman (almost 40 years of experience):
http://www.pinheadlounge.com/photos/0/644/12032/lg_DSC02868....
And compare it with a upcoming novice, who's just doing killer work (and is a woman, I might add):
http://www.pinheadlounge.com/photos/2000/2793/170630/lg_1233...
I've also worked with metal smiths, letterheads, prepress/letterpress/typesetting/lead pros, hot rod enthusiasts and all kinds of other "lost arts" that are readily being passed to anyone who wants to learn.
There's still demand and still a market for this stuff even among younger people (I'm fascinated by it and I'm in my 30s) and it's not going to be digital any time soon.