No, it has not and will not in the foreseeable future. This is one of my responsibilities at work. LLMs are not feasible when you have a dataset of 10 million items that you need to classify relatively fast and at a reasonable cost. LLMs are great at mid-level complexity tasks given a reasonable volume of data - they can take away the tedious job of figuring out what you are looking at or even come up with some basic…
For example, an approach that does me well is clustering then using LLMs on representative docs. Tools like bertopic are great for this.
I also don't see a clear cut difference between the two in certain areas. Embeddings are critical in LLM pipelines, but for me anyway, also "old school" tools.
I think NLP as described in the article is certainly under threat, but the tools and approaches compliment LLM use well, are far more efficient, and distinguish the pros from the neophytes.
If you're using LLMs for NLP-type tasks, but don't know the NLP tools, you're missing out.