No. The "collapse" of CoC was brought on in part by the fact that working on it was aggravating for the existing coders and impenetrable to newer ones, meaning sooner or later it was going to die. The design was not extensible at all, and that was a huge problem. Also that they did it for free and now they have paid obligations (obviously this is a pretty simplified version of the situation) - it's unfair to people paying actual money for content delivery to keep working on an unpaid product when you could be spending the time on paid content. I have absolutely no source for this other than that I've seen Gedan's work ethic, but I would guess that she did the vast majority of finishing CoC's dungeon post-TiTS release after having already worked her requisite hours on TiTS, effectively taking on a higher workload for no personal return whatsoever. It's a different situation here - while TiTS' code isn't exactly stellar, it's actually perfectly useable and not daunting to the point of driving away every newbie. This means that even after it "ceases production", people could keep modding it if they really want. CoC2's code will likely be better still (probably?).
That's just the background, though. What I mean is that the people who want TFs are free to keep playing TiTS if they really desire them over every other aspect of the game - like I said earlier, I would wager the vast majority of players do not actually care based on the little background info I have available. I would expound on this further but I don't feel qualified (or comfortable) talking about the business decisions of a producer I'm not affiliated with. The short version is that I'm pretty sure they have their reasons, because they wouldn't do it otherwise. The main point is that there is no real reason people cannot play both - I still sometimes play CoC (and to this day have not beaten it). Games don't live forever, and that's fine.