Not really.
Cell was a "Proto-APU" (sort of), just like the Emotion Engine was a "Proto-Cell". It was a hybrid processor, just like AMD APUs are. It had the traditional CPU part (PPE) and the SIMD-heavy/GPU-like part (SPUs). Guess which one was the hard part to program for.
Radeon CUs are the evolution of Cell SPUs.
GPGPU wouldn't have existed without Cell. Crazy Ken wasn't so crazy after all. Cell definitely influenced the semiconductor industry. It's not dead, it still lives inside modern GPUs, just in another form (just like extinct dinosaur DNA still living inside modern birds' DNA

). It even lives inside the Xbone GPU (even though it has less ALUs/ACEs/queues, it still adheres to the same GPGPU concept).
The PS4 is a GPU-centric system, while the PS3 is a CPU-centric one. You could say that the PS4 is an "inverted" PS3.

Both systems require excellent CPU-GPU cooperation to yield the best results. Uncharted 3 & 4 have proved this.
Devoting more resources to the CPU than the GPU is a historical "anomaly", since most gaming systems (including PCs, consoles, portable devices) dedicate more transistors/power/die space to the GPU compared to the CPU.