Well, if you count it in that way, that might be the end of bitcoin. But the idea of bitcoin is exemplary, it won't be diminished that easily. Many will come by the time you've predicted.
I don't think so. I hope this is not true. Because Bitcoin has helped so many people and if the currency dies,a lot of people will probably have a hard time adjusting to the old ways.
Why would it be the end of bitcoin? After the last bitcoin has been mined, miners can still earn bitcoin through transaction fees. I'm pretty sure Satoshi wouldn't design bitcoin to be scarce if it would die after the last coin has been mined. It was made scarce in purpose to be deflationary.