I don't think Medium will be closing its doors any time soon - it'll just be another pivot. I can't rule it out - but I suspect they're going to try something new and work out who their demographics are and how best to accommodate them.
I've noticed a lot more older readers on my stories recently - so I reckon they're going to try and make the place a little more inclusive and user friendly. That'd be my best guess. Medium changes all the time - trust me, I've been here a while and there's not usually a reason to panic.
I can't discount the fact the world of Medium might end, but I'm far too long in the beak to start collecting e-mail addresses and being organised. I'll just have to find another way to make rent. :o)