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The store is currently "frozen," meaning no new games can be added to it. Razer promised (about a year ago) to keep the store online for at least a year, after which their plan of action was undecided. So the short answer is we don't know.
That said, here's my thinking:
Razer doesn't want to close the store per se. The only reason they would is due to the cost of "keeping the lights on". Razer basically built their "Cortex store" for Android out of the OUYA store infrastructure, so as long as that's running, the additional cost of the old OUYA store is basically just storage. Freezing the store keeps that storage cost from growing. As long as the Cortex store is alive, I don't think the OUYA Play store will disappear. How long that'll be is another question. On the one hand, it might be in jeopardy if the Forge is as dead as it looks like. On the other hand, they'll almost certainly use the Cortex store for their new mobile device, so that will keep us on life support at least a little while longer. There was also talk of opening Cortex up to other devices, similar to the old "OUYA Everywhere" concept. So really, it all depends on how serious Razer is about staying in the Android game and whether they can find a successful strategy.
"But I don't want to go among mad people," Alice remarked.
"Oh, you can't help that," said the Cat: "We're all mad here. I'm mad. You're mad."
"How do you know I'm mad?" said Alice.
"You must be," said the Cat, "otherwise you wouldn't have come here."