Yes, probably. I think it's in its death throes at best.
People still use it (my team does) but only because that was the infrastructure that was offered to us for the past 10-15 years where I work.
My team is actively moving away from it now that our IT dept has opened up more options. We're moving to PHP, Node, & Ruby but will be required to keep CF around for a number of years yet because we simply cant afford to refactor everything that is still in production.
Hopefully Adobe will keep adding security patches just enough that we don't have to migrate everything off of it all at once.
So, I have a love/hate relationship with the language. I feel like Adobe invested in the wrong parts of the technology and charged way too much for it (which can be said about a lot of Adobe products), but I actually really enjoyed programming with it for the last decade. But, as a CF developer, there are virtually no jobs asking for it and other developers snicker when you mention that you use it, so, sadly, we must move on.
Steven Ventimiglia
Creative Technologist & Sr. Front-End Developer
Unfortunately, I agree with Adam (@appalcich).
In my experience, the work environment is volatile as well, due to the increase of unadaptable team leads who don't collaborate well with others.
Three companies/projects over the last decade, using CF, but no more. Golang and Node.js/Express are now my choices, personally and professionally.
And, Adobe may have gotten into the bad habit of slowly destroying their brand - but there is the open source, Lucee.
lucee.org
However, very few actually care, since it's nowhere close to the top of the "Programming languages you should learn" list.
Plus, the industry simply will never jump back into a virtually abandoned 15-20+ year-old language with a desolate 0.03% of the job market available to it.
I loved the BBS Scene and ANSI. But there's no authoritive use of either these days. So, onward and upward.