No, the Warner Archive Instant Streaming service isn't going away (as far as I know), but I have cancelled my subscription after being with it since 2013.
As detailed in my post from last May, it's a streaming service for classic movie lovers and I highly recommended it then. Unfortunately, since that time, the service has added almost no new content (new titles have appeared, but most of them have already been on the service). What new content that has arrived has consisted of a lot of standard definition transfers of fair-to-middling TV movies from the 1970s and little remembered B-features.
It's a disappointing turn of events for this service, which seemed like a model the other studios could emulate.
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