Is this game done for?

Terraria is still continuing to get updates with 1.3.3 being the newest one planned. Redigit stopped working on Terraria after 1.3 as he has moved on to focus on Terraria: Otherworld. Cenx, Yoraiz0r, and Lazure still continue to update Terraria however. The game is technically a "complete product" as it is now, but it continues to get updates despite this. Eventually updates for Terraria will stop with there being a Final Update, but it doesn't appear that will be for awhile.

For Consoles, the old generation consoles will not receive the 1.3 Update, but the newest gen consoles (Xbox One/PS4) will get 1.3 sometime around next year based on this latest announcement for Consoles/Mobile.
 
If you didn't notice, we're getting 1.3.3. This game is considered a 'finished product' since 1.0, and we can all be grateful that they have been pushing out a ton of updates for free for 4-5 years.
 
Not yet. It's complete, but we're still getting more additional content and other improvements.
 
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