Why would it be?
From a fan standpoint there's no doubt in my mind it's still alive. That's an obvious one.
From a player standpoint, it's been a few years since they've gotten involved (the pierzynski & barrett fiasco) but that doesn't mean there isn't a rivalry going on. Disrespect doesn't equate to rivalry either so I'm not sure why that was brought up.
And let's be honest for a second, 08 was the last time both teams made it to the postseason at the same time. Some people only consider the South Side vs. North Side battle a real rivalry when both teams are good, and that isn't the case this season. When the White Sox are doing what they do and the Cubs are struggling the games won't mean as much because one side can't say their team is better. When the teams are evenly matched is when things get interesting.
TL;DR: No, the rivalry is still alive.