Tony didn't die but he may as well have. They all may as well have.
By the last episode Carmella has essentially accepted the fact that Tony will never be faithful to her. She has compromised the one thing she believed in most for money. Meadow was the only character to ever call Tony on being a mobster and was on her way to becoming an advocate for immigrants and the underprivileged. But in the end she has gone to the dark side and works for a firm that handles rich, white collar criminals. Meadow most likely goes on to become a mob lawyer. AJ, the most obnoxious character in the history of television, actually tries to get his shit together late in the game. He gets serious with Blanca and makes an attempt at being a step father. He makes the decision, misguided though it may be, to join the Army. He attempts to do something worthy with his life. But in the end he backs down and goes to work at Little Carmines porn studio, which, in true Little Carmine fashion, is named "Lone Wolves Productions". They have all given up on their dreams so they may as well be dead. Tony is the Devil and he wins in the end.