Something new will replace it but it is a loss to the btc community localbitcoins has been the website everyone uses for p2p trades because of its simple process.
Binance has already replaced everything, from p2p to margin trading to spot trading alts/btc/usdt.
Also, I dont think many ppl were using localbitcoins recently, I heard they got high exchange rates and not very suitable and user friendly for recent users. Hence, they got forgotton because they couldnt catch up with the ppl's changing habits/behaviour. They should have built a better app like binance/bybit to catch more attention of newer generation, but they just got stuck with the old boring theme.