I sure as hell hope not!
I'm comfortable with the idea of fairies being a new type, and with them being super effective on dragons. However, the fairy type being completely immune to dragon attacks make absolutely no sense. Dragons were designed to be highly powerful, with high offensive stats and being able to tear mere pokemon to shreds, however they're also a glass cannon, with nearly every one having 4x weaknesses to many common types and often able to be destroyed in one critical/super effective hit. Dragons are supposed to be hyper-offensive and not care about the repercussions of their actions. Steel made sense, as it's neither a biological entity or able to be destroyed easily, and often used to restrain and shackle dragons in mythology.
But fairies being outright immune to dragons... come on man. That just comes off as plain and simple uncreative, as a mere way to balance the typing without any creative flair. I was comfortable with the idea of fairies able to take down a dragon, but dragon type attacks still should've done neutral damage to fairy. There's a certain cosmic influence in many of the fairy type designs, almost as if they've escaped from elsewhere to take refuge and prosper on the pokemon planet (earth maybe?). Then there's attacks like Draco Meteor, which being space oriented, only make sense to be ridiculously powerful on the fairies who have to come to escape it.
Maybe i'll get over it, maybe I need a bit of an explanation, but I don't think i'm ready yet for dragons to get nerf'd as hard as they are...