No. Web API is another way of building non-SOAP based services, for example, plain XML or JSON string etc.WCF is still a good choice for following scenarios: If we intended to use transport other than HTTP e.g. TCP, UDP or Named Pipes. Messag Queuing scenario using MSMQ. One-way communication or Duplex communication
no both are different WCF - SOAP services WEB API- Rest full services
if you are developing new app with REST based services.. web api is a good choice..