It's not quite like that. 1 Million is still a classic, but the question is more nuanced than thinking it's dated just because people are wearing other things now. The truth is that this perfume has strong projection and a very recognizable scent - exactly the same for years. Some people love it, others don't. If you like it, why would you stop wearing it just because other girls are into different brands? Nobody dies from wearing a "less modern" perfume.
What's changed more is the culture around fragrances. Now there's way more choice, way more niche brands, lots of people exploring different scents. But that doesn't invalidate a classic. It's like the difference between basic jeans and current fashion trends - the basics still work. If you've got a bottle, enjoy it. It doesn't have to be a binary choice of "either it's eternally classic or it's dead". It's just a perfume that still smells great and works for lots of occasions.