That's definitely not the case in computer science and electrical engineering at least. LaTeX definitely isn't great, but I don't see a viable alternative.
There's always InDesign, but given its time to proficiency, I think the bast case for similar purposes might still be something creating LaTeX/DocBooks source that ports well to InDesign.
Can't diff a indesign file, whereas latex is easy to diff.
Indeed, lots of people I know (mainly computer science, electrical engineering and physics) still heavily rely on it for long documents and papers.