Is pantera alive?

Hell no...

Pantera broke up mainly due to conflicts between band members, particularly between brother Dimebag Darrell and vocalist Philip Anselmo. These tensions built up over the years and led to more than one dispute and personnel problems. After the tragic death of Dimebag in 2004, who was shot dead during a concert by the band Damageplan, a Pantera revival was impossible. The conflicts between the members ran so deep that a return to cooperation was out of the question. In addition, the tensions seem to have deepened after Dimebag's death, making a possible reactivation of the band even more difficult.

Is Chad from hellyeah a good successor?

Chad Gray, the vocalist who joined Hellyeah, previously had a significant part in the band Mudvayne. While Hellyeah has certainly attracted Pantera fans due to the participation of Vinnie Paul, Pantera's former drummer, and brother Dimebag, it is difficult to determine unequivocally whether Hellyeah is a "good successor" to Pantera.

Chad Gray is undoubtedly a talented vocalist, but Hellyeah has its own musical character and a slightly different style than Pantera. Nevertheless, for some fans, especially those who like heavy metal sounds, Hellyeah may represent some continuation of Pantera's tradition, though of course within a different musical formation and creative process.

Now Pantera is touring with Zakk,
And it's good.
I'm fine with that.
Phill still growls.
Drummers are drummers
Dime is unremarkable.