Is Gilt City's BuyWithMe Purchase The Start of Daily Deals' Demise?

BuyWithMe is now a part of fellow discount site Gilt City.
Beginning today, the discount site BuyWithMe is officially a part of Gilt City, which purchased the flailing company (they laid off half their staff last week) for $5 million.  As daily deals sites first proliferated, the question arose as to whether they would or could all survive.  Is Gilt City’s inexpensive acquisition of BuyWithMe — which had originally raised about $20 million in venture capital — the beginning of the end?