The 120 format is still widely used, but a much more gloomy outlook is widely held for E6 emulsions.
I really don't think E6 has a medium- to long-term future with just one manufacturer, with their fingers in several more profitable pies than film that reached its halcyon peak many years ago. Photographers should at this point consider a stepped transition to e.g. C41 or B&W while continuing to enjoy the availability of what limited range of E6 emulsions are available, while they are available. Using — exposing, transparency film is a specialist skill that all photographers should value, moreso those who print exclusively from it. I suspect that the next tranche of discontinuations at Fuji will include more cuts to Velvia in all formats, but most likely in the very, very low volume selling 35mm. Unlike more common and widely avavilable C41 and B&W emulsions, it has become much more of a chore to get E6 processed, not so much at high cost, but travelling about to labs that are still offering E6 processing. For example, I travel 160km return to the best of two labs. Of the two labs, I have a choice of paying either $7.50 a roll of 120, or at the other (unexplained!) extreme, $18.00 (!) for a roll of 120. If push comes to shove, I am at peace with a situation of loss, and will migrate wholly to digital, as I have used that on the side for many years now obtaining much the same results as the time consuming, cost-intensive RA-4 hybridisation process from RVP50 work.