No, I don't think so at all.
AWS is a good product, but it's not the best for everyone. They are popular, but there are still drawbacks to using their service.
- Price. They are not cheap considering what you got
- Availability. Although they are a true cloud provider, they still experience downtime
- Hourly billing. This can be great, your only charged for what you use. BUT have a post go viral and you could end up with a $X,XXX bill at the end of the month
- One size fits all - Talk to a small to medium size host about needing a custom solution. Chances are they will put something together for you (If they actually own their own hardware/network). Try asking Amazon for a custom solution.... Unless you want a custom solution for many thousands of dollars a month, you don't stand a chance.
- Overly popular is not always good. With a big company, your just a number. If your not happy and leave, it doesn't matter, they have millions of other customers. With a small-medium size host your are more likely to get support that will go the extra mile to make sure your happy.
AWS is great for some.
AWS is very popular.
Neither of these mean it is the best for everyone, or that it stands a chance at 'taking over' the market.