Yeah I feared that is the case too, its very suspicious Oda has cut away from the fight without showing the conclusion. Makes me think its gonna be another Ace situation and thus Law may die as you said. Gonna be a real frustrating shame if so.
We've got 3 chapters including this one before another break, so I hope we return to Law within them, even if its just one chapter before the break, maybe the cliffhanger for the break?
Oda probably wants to leave his fate ambigious and surprise us later when BB shows up again or even more surprisingly, we see Law later and somehow hes fine too lol.
As a fan of both Law and Blackbeard, this is really awkward for me and Im trying to find the ideal compromise for their situation right now.