Yeah, they will end its support along with ME next year.
Microsoft planned to discontinue its support for Windows 98 on January 16, 2004. However, due to the continued popularity of the operating system (27% of Google's pageviews were on Windows 98 systems during October-November, 2003 [1]), Microsoft decided to maintain support until June 30, 2006. Support for Windows Me will also end on that date. - Wikipedia.
However every time they discontinue support and updates for their older operating systems, impoverished users with older hardware fare a higher chance of switching to an alternative to Microsoft Software. I say that, however I still know plenty of people who run Windows 95.