Well, it handles text/audio/video chats. But text chatting is still a big part of it: Right now I'm using it for group work, because it has a great filesharing system. It's very flexible, but I think it still counts under the instant messaging umbrella.
Traditional IM is suffering, IMO: Twitter, Social networks and Skype ate its users. And, paradoxically, even Email.
Maybe it's just me who use them less and less? No idea.