Kinda? All energy will dissipate until everything is the same temperature. Idk what that temperature will be but it might be pretty cold. But heat wonāt just, like, go away. It will homogenize.
The concept of heat as we know it will be gone. If thereās no differences in temperature then thereās no heat.
Heat - A form of energy associated with the motion of atoms or molecules
That would still exist. However a āconceptā being defined as an idea, would not exist as there would be no living thing to think it up.
So heat would exist, the āconcept of heatā wouldnāt. So your first statement is technically correct. Your second statement is wrong by the primary definition of heat.