Definitely. My libraries had microfilm and microfiche into the mid-90s, and I often kick myself (among blissfully few other regrets) for not asking what they were planning to do with the stock when they started to modernize. Sure, I have a hard enough time finding space for everything and I certainly don't have the space (or possibly maintenance skills) to keep a microfilm reader, but there was a lot of content that I'm not likely to run across again.
It shows, I guess, how few people grasp the idea of preserving older material, that only a handful of people even notice that the machines and content are gone.
On a related "end of an era" note that surprisingly few people seem to really mind, the local (well, not to me, so much, but nearby) Bookmobile is apparently winding down its life after close to fifty years. I'm hoping they can pull something together (I put in an offer to help them set up something like the Internet Bookmobile to help them raise funds), because the neighborhoods they frequent benefit greatly from the interaction. And yet, the town just can't be bothered to fix the trailer.