Yes. And unemployment is truly miserable.
On the other hand, if we subsidize our current crop of buggy-whip manufacturers to keep them in business, that's worse.
Capitalism is based, in part, on "creative destruction." If you're one of the destroyed, you won't like it, in the short run, but if you can adapt, in the long run you're better off. Regardless, you can't stop this. It is the powerful engine that makes our economic system run.