Yes, Lua is an excellent language and used very heavily in the games industry - a LOT of AAA games use Lua for scripting. I don't see it dying out in the foreseeable future.
Furthermore, on platforms where it is supported, LuaJIT provides a blazing fast implementation (and includes a very very simple to use FFI to make embedding in C even easier) which has shown to be competitive with C in some benchmarks.
Furthermore, on platforms where it is supported, LuaJIT provides a blazing fast implementation (and includes a very very simple to use FFI to make embedding in C even easier) which has shown to be competitive with C in some benchmarks.