MD is not perfect, but it’s perfectly adequate.
Markdown apologist here - I think MD is the greatest thing since sliced bread and I use it a LOT. In fact, one project I work on has an entire git repo of just MD docs. It’s easy to maintain, and even non-tech people can author them with ease. In fat, I love that raw MD is entirely human-readable, and even if someone fat-fingers some of the syntax, it’s still very forgiving.
Don’t forget, many MD renderers support regular HTML embedding, including <style> tags, which makes it a very flexible choice.
I don’t think it’s going anywhere!