No.
Investments in flagship Windows tools (SSMS, SSDT, PowerShell) will continue in addition to the next generation of multi-OS and multi-DB CLI and GUI tools. The goal is to offer customers the choice of using the tools they want on the platforms of their choice for their scenarios. Azure Data Studio is more tightly focused on the experiences around query editing and data development, which research has shown is the most heavily used capability in SQL Server Management Studio by an order of magnitude. Additional high-value administrative features such as backup, restore, agent job management, and server profiling are also available as extensions in Azure Data Studio. Azure Data Studio is also cross-platform, allowing users to work on their platform of choice. However, SQL Server Management Studio still offers the broadest range of administrative functions and remains the flagship tool for platform management tasks.