Valorant and CS are so fundamentally different that there is no shot that one kills the other. Both from a gameplay and cultural perspective.
I feel like the cultural perspective probably is the more important one. Valorant did such a great job at attracting new demographics to the genre of tac fps. I honestly never thought that it would be possible to have a female playerbase of over 10% in such a game, and yet here we are. Thing is, this would never be possible in CS. Valorant really makes sure everybody is welcomed, and nobody misbehaves. Something that often attracts females more for example. CS on the other hand, thanks to valves hands of approach, is pretty much the wild west. Every game is full of banter, toxicity and making fun of each other. Half of the playerbase is tilted af and the other half cracks up in front of their pc when the russian kid starts screaming.
In some sense it probably actually is similar, culturally speaking, to the cultural differences between republicans and democrats in the US in terms of cultural diviation.