No. It just means "short-lived".Ex)
Fame in the world of rock and pop is largely ephemeral.
I know ephemeral means lasting only for a very short time.
Is ephemeral has the implication of meaning like vain, empty, futile?
Thank you for your comment, Kentix.In your context it can suggest that, if that's what the writer is trying to say. It doesn't automatically mean that but it's a good word to use if you are making the point that most modern singers and musicians, if they have any fame at all, will only have it for a short time. For every Mick Jagger, there are 10,000 others whose names you don't know. I assume you have heard of the idea of a one-hit wonder.