MIL STD 1553 is alive and still in use. Backwards compatibility will keep it around for some time. Not only is it used in aircraft but also on spacecraft.
It tends to be used for control applications and lower data rates. High volume data, for example from sensors, will employ different bus structures. Many control, communications and guidance ...
The F-16 uses a MIL-STD-1553 data bus and was the first aircraft to do so.