Yes, the monorail is dead.
On Nevada Public Radio (KNPR) over the past few days, there has been much discussion of the two miles of tunnel already completed. The cost was only $10M per mile for the 13-foot tubes, a tiny fraction of normal 28-foot-tube subway costs.
There are also proposals to connect to downtown, with at least one member of the Clark County Commission complaining that The Boring Company has been insufficiently transparent about its intentions.