Depends on what the "point" is.
If the point is to have fun with friends, not really. You could say that now everyone plays online instead of playing with friends, but that's like saying people don't spend as much time together anymore because they can just text each other. Texting happens because it's simpler and easier, but friends won't pass up opportunities to actually hang out just because it takes more effort. Same for playing online.
If the point is competition, video games haven't really gotten there yet anyway. A few games are taken seriously as competition in small circles (or Korea), but we're not yet to the point of being recognized as a legitimate form of competition.
Either way, I'd say no. It's changing, but not losing its point.