I don't think so. Just like every culture has it's own heritage, like the story of King Arthur were left for generations to millions of westerns, and people still like it very much even now! You wouldn't consider King Arthur to be silly will you? And what attracted us the most about Arthur and his knights are their adventures and their noble deeds and spirits, and so does wuxia!! Wuxia is one part of the chinese culture. Maybe it seems a little bit silly for people nowadays, that's because we all under the influence of Hollywood! We all get use to the hero that beat and kill the monster or the bad guy, the great stunts a sci-fic movie brings or some belletristic movies that bewitch us with its cliche romance, for one couple met just now but have sex rightaway! Wuxia has its own value for the modern society to exam, to adore and to worship! Even if it's not realistic.