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No they're not. SATA isn't going anywhere. Hard drives are still the only option for truly massive amounts of affordable storage, and they won't be fitting into the M.2 form-factor anytime soon.
If you want the middle ground, fast but not as expensive as NVME, SATA SSDs make perfect sense. Put em in raid and you can get speed, too. Not just size.
Not to mention that plenty of still perfectly usable motherboards and laptops still only have the one M.2 slot, so if you want more than one drive, any additional ones have to be SATA.
This WILL reduce supply, which WILL increase prices. For M.2 drives too, because people who could have gone straight for SATA, now have to buy M.2 and put it in an adapter.
Did you miss the part where it says SATA SSD?
Did you miss the part where I wrote three additional paragraphs after the first?
The only reason I mention hard-drives, is to make the point SATA will continue to stick around, to be used in laptops desktops, and especially network storage.
Plenty of people are gonna want to plug in a SATA SSD into that "slot".