Well, I haven't ever lost mine, even after 90-someone pounds of weight loss and several additional pregnancies (including my current one).
BUT
It does get much, much better with weight loss. Yes, I still have wrinkly skin and a little pooch, and always will after a c-section and a few VBACs, in addition to being morbidly obese originally! But it no longer overhangs in any significant way and as my weight gets lower I expect it to effectively disappear aside from the empty skin, which tends to be crepey but doesn't actually hang once the subcutaneous fat is lost. It's really not that bad at all, and I'm one of those women who has genetically iffy skin elasticity, to boot!
At 260 pounds, it was a huge and noticeable issue. On my blog, in my progress pictures, you can see it through my clothes even down to 190 pounds. But around 170 it REALLY shrunk and can now be camoflauged very easily with pants or a skirt. Even naked I look pretty awesome, all things considered.
So take heart, it can be managed, but lots of weight needs to come off to lose those stubborn fat stores in the abdomen for women prone to an apple shape, particularly. It can absolutely be done, but give it time and dedication before proclaiming it a lost cause. And yes, it might be awfully slow - I've been losing this weight for four years now, with two additional pregnancy breaks after my high weight in the months following baby #2. But sticking with it has shown GREAT results, even when I have lots of off days and poor choices and maintenance breaks thrown in, too. Be in it for the long haul, and the apron CAN be vanquished for the most part. You won't look like you were never obese, unless you are gifted with VERY elastic skin, but you'll look much better and feel more confident about your body than you do now, I think