yes it is basically dead. My concern is that underlying genetic weaknesses might rear up later on. For example if one has a genetic problem which leads to a higher chance of heart disease the heart disease itself will likely be treated, rather then them dieing, so they will pass on this heart weakness to their children and it will get worse and worse as two people who both have a weakness of an organ due to genetics have children. If we had no medicine people would die but now we pass on genetic diseases making the situation worse, tendencies to get diabetes, cancer etc, all passed on because the conditions can be treated, however it's not an ideal situation.
Nothing we can really do though.
Survival of the Fittest definitely exists- look at places like Africa, deprived of resources because the richer countries have managed to make/steal/trade supplies for their countries whilst not giving that much thought to poorer countries- however times are changing.
It's Called Survival of the Richest now.