Feedburner is near it's end, google reader seems to have "stopped", users use facebook pages to subscribe to content. Is RSS still relevant in this scenario?

I think so... But hey, I still enjoy newsgroups... What are we talking about? Commercial use? Well, FB is here and we know that every comm agency in the world will say: it's the future stupid. Can't you see? But if you have a drop of Net lyricism in you (I have a gallon at least) you'll get my point...

My point is more on the grounds that while RSS is immensely useful to me and other power-users, the regular website visitors hardly know of it's existence.

So, is RSS relevant as a subscription option or is it just a component for tools like ifttt.com ?

there will always be spammers who need it ...
socialmediatoday.com

I personally believe that RSS is becoming more and more outdated on the web. I barely ever if at all check an RSS feed on the web. Even things such as Google News are slowly coming to their demise. I think Google News and other online sites which combine these feeds will die off within the next decade at max. But is RSS irrelevant? No. Now in the mobile space RSS is just starting its new boom. Apps like Flipboard and Pulse are booming off giving news in a completely different, intuitive way. RSS isn't going away or becoming irrelevant. It's evolving to the new ways that people receive their news.

I have to agree with Vijay & Bruno about RSS evolving into an important component for services like Flipboard & IFTTT, but there is still a heavy power-user community of bloggers who use it not just for news & reference, but also to keep in touch with the thousands of fellow bloggers who's websites are often too good to miss, but too many to see all in a day.