Remembering all the time I wasted collecting and curating a personal MP3 library (now replaced completely by Spotify), I wonder what current practices I spend a lot of time on that will be become obsolete.
I still have my old MP3s despite only really using Spotify these days. I don't regret the time spent building and curating that collection in the slightest. If anything, I expect Spotify itself to be the thing that becomes obsolete, leaving me to regret that last several years in which I haven't kept up with adding new music to the collection that I actually own.
Almost certainly but there will be an alternative company with some migration path for your playlists. Unless omnipresent network connectivity stops being a thing, in which case there would be bigger problems than music.