If you mean for new project starts, it might severely diminish it, but I don't think it will flat out end its popularity any more than Rails killed Java.
Also, it depends on what type of project you are talking about. For something at large scale, my guess is meteor won't be any more successful than Rails has been at huge scale (like Twitter).
I do agree that using one language end to end might be an awesome developer experience, but I wish that language wasn't JavaScript. I won't go into great detail as to why, but I would not want to build a large JavaScript app. That sounds incredibly painful and unpleasant to me.