Kinda. What will actually disappear is the notion of the NU52 being anything other than an event comic. All the stories happened, but eventually all the pre-52 continuity will be reinstated for the most part.
In other words everything that happened in the Pre-52 DID HAPPEN, and everything in the NU52 DID HAPPEN, and from there DC will move forward to the extend that in the end you really won't look at anything NU52 as not having happened in the Pre-52 continuity.