Yes really.
Nobody claims PPC is dead for routers, switches, printers, and similar embedded applications (where CPU's like this one will do just fine, I'm sure). But nobody is developing PPC CPU's for laptop/desktop usage, that stopped 5-6 years ago (whenever it was that Apple went x86) and more importantly, nobody is making viable laptop/desktop motherboards or systems based on PPC CPU's!
It's dead Jim!
Not to mention that some PPC makers will be introducing very capable ARM designs.
I don't think that PPC will go completely dead that soon, but the writing is on the wall, it seems.