There will always be a market for 50, 70, 90 seater aircraft, there are too many variables to consider though, such as fuel price, competition, market saturation, marketing, code share agreements, you get the picture.
In my humble opinion, had it not been for the price of fuel our operation could have succeeded as we were tapping thin-under-served markets, with high yields.
So the short answer is maybe, but it's risky.