Everything we are seeing happen in DBS is causing a change to GT, but it still very much exists and is upcoming in the franchise. They are just going to announce a "GT" that continues from DBS's story in the future. Expect to see the things that were well received to appear again even if reimagined.
I have created a vast comprehensive checklist of all the beloved things in GT:
1. SS4 [ ]
2. The IDEA of the Dragon Balls turning evil [ ]
3. The IDEA of Baby, the legacy of a race victim of the evil Saiyans [✓]
Baby has been pretty much retooled into Granolah, so that's one check