Absolutely. The resurgence happened in response to the unending disappointment in the CD. But at last digital… both CD and more importantly streaming has reached equal or better (high Rez streaming) sound quality in many component combinations and will continue advancing. Without the sound quality advantage vinyl just becomes nostalgic.
Well... The LP has continued to advance as well. QRP (Acoustic Sounds) sorted out that vibration was the primary cause of surface noise in LPs and so installed damping to reduce it- and makes vastly quieter LPs as a result, rivaling the noise floor of Redbook in that the electronics become the noise floor rather than the LP itself.
Then there have been advances in amplifiers; before I sold off my LP mastering system I was really thinking of replacing the original mastering amplifiers (which were state of the art in their day) with some class D modules, perhaps our own, as they are more stable, more reliable, lower noise and lower distortion.
Finally the real limitations of the LP are in playback, not record; tonearms and cartridges have continued to improve. So while this is all incremental, saying the LP doesn't have the sound quality is a bit of a stretch- its still got potential just as digital does.