Absolutely not. The only thing Flickr has going for it at the moment is its community; which has withered. They aren't going to out engineer or out pace any smaller competitor. Basically, the only thing they have is gone and is going to be very hard to get back. In Internet speak they abused their community by abandoning them for years. By "they" I mean the bureaucracy I came to know so well while at Yahoo!. And no,…
It's also got the inertia of it's existing userbase - each year my renewal comes up, and I think "Do I _really_ want to pay for this again?", then I think "But is it worth saving $25 but having to move all the photos I have up here, and deal with having links to them break?" and I just pay up again. One day, I suspect I'll start storing photos elsewhere, but I'll probably choose to not only export all my Flickr photos and re upload them to the new place, but also choose to keep paying Flickr for long enough that I don't care too much about all the forum and blog posts pout there embedding Flickr urls - that's quite likely to represent another 5 years of Flickr subscription, even if they don't offer me anything except continuing service of the photos/videos on their current URLs. (My Flickr stats show long-tail trickles of image views from forums I've not been on in 3 or 4 years, at least some of which I'd be sad if the people looking for that sort of specific information (in my case, a lot of repair and service information for late 1990's Ducati Monsters) ended up with a bunch of broken image links)