Yes. They served their role just fine in the 90's when the Democrats had to move to the center to win. But the 90's are over. The senior citizen Democratic GI's are dead and baby boomers are pretty set in their conservative leanings. The next generation of Democrats are much more responsive to folks like Obama and to a stronger degree Bernie Sanders.
She lost to a man who had a 60% unfavorability rating on the day of the election itself. She's done her service as a First Lady, senator, and Secretary of State. It's over.