Flickr has set up a non-profit "to properly preserve and care for the Flickr Commons archive, support Commons members […], and plan for the very long-term health and longevity of the entire Flickr collection."
I wonder what the "100 year plan" will be. Flickr does seem like one of the few places that could conceivably store copyright photos for as long as it takes for them to become public domain (i.e. it's worth it, because they keep the full-res originals and lots of metadata).
Of course, the vast majority of photos on Flickr could probably be made CC-BY-SA now by their owners (i.e. everyone who's not making money out of their photography). I think more should be done to encourage people to do that.
It's not dead yet though Verizon nearly tried to kill it.
It was a part of Yahoo! for a long time. Then the zombies of Yahoo! and AOL and a few other internet media companies got bought by Verizon and merged into a sub-company (dumbly) called Oath. Under Oath management the zombie of Yahoo! tried to kill Flickr because it was a huge overhead cost (photo storage isn't cheap) with seemingly no revenue growth/"future", but eventually agreed to sell off Flickr to Smug Mug instead.
