No? BMW has a next-gen 3er in the works, separate from the electric i3 coming in 2025, Mercedes just launched the W205 and Audi has the B10 generation A5 coming soon on a brand new "PPC" platform, reinvesting with a whole new lineup of updated powertrains. Each big three are also launching their next-gen ICE 5er, E Class, and in two years new A6.
Still think Lexus can 100% make a case for a new gen IS, I mean the current *uncompetitive and outdated* IS is selling okay and has been on sale since 2014, a truly new gen could sell much better I would think