Yes. It was the inevitable end of any Mobster. Even if they have the luck to get old, the past will torment them (those who have shreds of morality) and they are bound to have a tragic ending. As Tony Soprano said: Prison or Death. The Godfather 3 shows us a third option: being emotionally broken, destroyed by the consequences of the life one chose.
The tragedy of the ending becomes even more heartbreaking because we know that Michael was pushed into that life, forced to step up in order to guarantee the safety of his family. In the end, he wasn’t able to get out on his own terms, the mobster life catch up to him (his wife left him, his son resented him, his daughter got killed; his brother was killed at his command and that tormented him) and destroyed him, even if didn’t exactly killed him, which is even more dramatic.
I can even manage to excuse the fact that in the last movie Pacino didn’t seemed to be portraying Michael Corleone, so many years have passed, he thought that he had got out, he had brought his family to “the light” and out of the criminal life. He was a very different man.