Yes - It's dead.

I'd never recommend someone to learn computer engineering so he can work as a dev or dba etc.

In the end it's all about what you want, where will you earn decent money and have a fulfilling job. You can earn better at a lesser effort in other jobs, so why go for this?

I personally like it, but as time changes and IT moves towards lower cost countries sooner or later that will affect us a lot more than it does today.

Back to the money and effort. Two friends bailed on computer engineering after one year because they found it too heavy, these were normal people, not better or worse than anyone else. However, as economy engineers they could study at 200% speed and still find it easier than 100% speed studying for computer engineer.

I do not believe there is a future for this job, it's already dead. You can do well within it, and I think change will come slowly, so it might take 20 or 50 years before salaries really starts to drop as india and china and east countries competes efficiently. But why would you spend as much effort in this job unless you love it and do it for joy when you can earn better and do less in other jobs?