Short answer: No, with a but...
Long answer: Yes, with an if...
Basically, the game
is
dying, at least locally around me. There is no local scene around me anymore. The usual state-wide FB group to ask questions and organize games is silent except for the occasional post about someone getting out of the game and looking to sell their collection. I've ran the CC three times locally, and we always had the full 6 plus a few people 'wait-listed.' My most recent effort to run a CC only turned up four interested folks, and two of them asked to quit about three weeks into it. The few local stores I've talked to are worried the Store Championships will bring in next to no attendance, and the most recent OP Seasonal Kit (which usually brought in 8-10 people) had two people show up, myself the TO, included.
Online, the game is also dying. The online community is toxic and there is absolutely nothing worth discussing. Armada isn't as 'solvable' of a game as some others, but there's only so much to talk about regarding old stuff and there aren't enough big events to report on. FFG's own support at the upcoming Gencon has the fewest seats set aside for Armada that they've ever provided, and it's going to be smaller than most of the Regionals (~40-50 people) that I used to go to a couple years ago. Between this and FFG throwing Armada absolutely no bones, it's very clear to see how important FFG regards their Armada line. In X-Wing and Legion and their other big properties, the dev-team members are well known, but with regards to Armada I'm not even sure that FFG has ever had a dedicated person (or people) as the dev team for Armada. I think they just pull people in from other projects and product lines when they make a new Armada product.
Will FFG release a new Armada product? Maybe. But even if the do, at this point I don't think it'll be enough to get my local community rebuilt, nor do I think it will be enough to reverse the toxicity of the online community and their general frustration/ill-will toward FFG, which I can sympathize with. Post-Asmodee FFG is very unlike Pre-Asmodee FFG.