Yeah. Apple wasn't able to kill the iPad 2 with iOS 7, so they're going for another shot with iOS 8.
My wife is using my hand-me-down iPad 2 (I've got an iPad 4), it is still running great... well, as great as anything can run on iOS 7.
They can't kill iPad 2 with iOS 7 even if they wanted to anyway, because they were still selling the device.
iPad 2 was also on sale this year so they can't just kill it. Especially when its A5 brothers will be getting 8.
But be warned though, this is very most likely iPad 2's last supported iOS update. Because all A5 devices would have at least have 3 years of support by the time iOS 9 is announced.