Definitely not true.

Look is without a doubt my favorite bicycle company. Everything from the ride to the aesthetics to the French heritage makes me . Not to mention all the pioneering and innovating they have done in the cycling world. Clipless road pedals are just one example, but these guys have pushed the technology envelope like crazy considering they are a relatively new to the bicycle industry (they started out making ski gear). It's just satisfying knowing they hand make all their bikes in their own French factory rather than outsourcing to Taiwan like everyone else.

I would never get rid of my Look 595. It's my favorite bike design of all time and I think it's unfortunate Look discontinued it and replaced it with the 695 as the new flagship model. IMO they should have kept the 595/585 as the mid-range model and scrapped the newer monocoque 586.

FYI, check the link in my sig if you are interested in a NOS 555.