I don't see hiphop going anywhere, same with rock, country, etc. There still are rap and hiphop stars. As late as last year I remember seeing rap/hiphop artists taking up 10-12% of the Billboard 100 with their new releases. The genre may not be as 'hot' as it was in the 1990's and later, but it's still alive and kicking.
That said, everything is nichifying, all of it. Country still seems to have consensus stars, but the other genres? Not so much. Whatever big consensus stars there are in the other genres date back to the 2010's or earlier.
We're seeing the results of streaming being the dominant form of music consumption, and its effect on the entire industry, including every genre of music out there. Streaming has increasingly made everything a niche. Just as you can see with every other form of internet content.