Not necessarily. I have had type two for 27 years and I am fine. The trick is to keep blood sugar levels as low as possible. Have a look around the site and ask any questions you like. Sure to be someone along to help. The LCHF diet seems to help.
The NHS official view is that Type 2 diabetes is progressive, leading to increased amounts of medication to avoid complications. But complications are usually the result of prolonged periods of high blood sugars.
Don't get stressed about this, stress will raise your bs levels too.
It is a shock when you first get diagnosed, but you can control this condition.