While Arrow will be wrapping up after Crisis on Infinite Earths, with a spinoff show planned for the future, it seems like the other CW/DC shows will be thriving with one more season each. Deadline has confirmed that The CW has renewed 13 of their shows, a lot of which are the superhero DC ones that fans have learned to love, hate, and tolerate.
Batwoman will get a second season, while DC's Legends of Tomorrow and Supergirl will be having their sixth. The Flash, DC's second-longest-running CW show next to Arrow, will not end after Crisis and will have a seventh season so don't expect this show to end anytime soon. Black Lightning, which finally had a crossover angle with the Arrowverse shows during Crisis, will have a fourth season.
However you feel about the Arrowverse shows, it's clear that they're one of the reasons why DC is still a relevant superhero brand and are often better than the movies Warner Bros puts out. It's clear that both The CW and DC know the value of these shows so they will be renewing these shows for a long time. That, or they'll get spinoffs like Arrow is getting.
Just to be clear, Arrow ended and was not canceled. It seemed to be a mutual decision that a lot of people decided on, which is far from a bad thing. All good things must come to an end after all.
Crisis on Infinite Earths will be returning to TV soon and will likely give new directions to all the CW/DC shows when they come out.