No.
Despite what a large part of the Wake Forest fanbase would tell you, Wake will still be in the tournament come Selection Sunday. Yes they flamed out down the stretch again. Yes it's full-on panic mode. Yes the way they're playing, they don't exactly look like a tournament team.
But there are a lot of other teams in 
mode right now (yes I'm talking to you Texas, Villanova, Clemson, et al). So by the numbers, here is why Wake Forest is still safe and in the NCAA Tournament:
19-10 (9-7)
RPI 37
SOS 28
Best Wins: Richmond (25), Xavier (21), Gonzaga (35), Maryland (19), GT (40), Clemson (33).
8-8 vs. Top 100
#50 in KenPom: #26 defensive efficiency, #4 defensive eFG%, #8 defensive 3PT%, #23 block%, #22 OReb%, #8 SOS
Look I know the Deacs have played really poorly. I'm not arguing about that. I am saying, if you look at it rationally, with the weak at-large pool, Wake's resume is good enough and they are safe.