No, not at all.
Why Schumacher alone buddy.
Even Jenson Button was doing well with Brawn GP , previous year.
And even budding Force India's Adrian Sutil is gearing up, The way he is progressing.
And he has said he will beat his childhood hero(Schumacher).
well to some certain extent, yes, F1 has lost its charm due to Schumacher (Michael) and also many experienced drivers shifting or retiring like Juan Pablo Montoya who was probably the most courageous overtaker in F1 history or even Kimi Raikkonen who shifted to WRC. But nowadays the charm is back with many drivers in the hunt for the F1 championship e.g. Button, Hamilton, Alonso, Vettel, Webber.
it is going to be tough. there are supposedly 5 contenders for the title. though i consider Button almost out. It is going to be a slugfest between Webber and Alonso. But i really wish Alonso takes it!