Wiktionary
be on its way out
vb. 1 To be going out of fashion. 2 To be in the process of becoming redundant.
Usage examples of "be on its way out".
Put your fucking guns on me, and in an hour that world will be on its way out.
In the morning they would miss it, but by then it would be on its way out of the country.
The Bluegelt must really be on its way out to have such lousy security.