No it didn't. This doesn't make any sense. The general public can like two songs at the same time. AATB's slayage didn't stop anyone from listening to or buying SIO, it only affected completely relative chart positions
What makes Shake It Off disposable and a song as generic as I Will Always Love You a classic?
No one gives a **** that you hate the song. You don't decide what songs are classics, reception from the general public does. And SIO's reception from all aspects of the general public has been exceedingly positive