No. No way.
In fact our own weekly enewsletter (thank you for reading this!) goes from strength to strength. That's if your measurement criteria for a successful newsletter includes the number of those signing up to receive it, the numbers opening it, the numbers reading it -- and the amount of favourable comments received.
Oh and the number of enquiries we receive through it too.
Yes, actual leads each week, even though we don't promote anything within the newsletter (ok then maybe a teeny weeny bit at the bottom sometimes!)
So I remain convinced that a company newsletter could be a very powerful contributor to helping your company achieve its strategic goals.
Fundamental rules of newsletters...