Surely this depends on how you read it... Polaroid as a company are messing around with branding products from elsewhere so maybe it's true. However the customers who buy Instant materials, made by The Impossible Project, from me - they don't see Polaroid as 'past its time' and still refer to these instant films as 'Polaroid'
Whatever Polaroid does the name will probably always have a meaning that goes beyond the Polaroid Corporation.