Yes, this happens. Since the travel time is measured in years and not actual turns, a ship that travels for 14 years will get lost in time before turns start counting for 2 years (at your launch date, a turn is 10 years or 5 years, I think).
Since the year that the spaceship landed (1184) never really happened for the game, you don't get a victory screen and the game goes on.
It's weird, but you can also get your capital captured and you'll get the 'ship returns to Earth' message even though the ship has supposedly landed.
If other civs decide to go for building their own ships they can 'win' the game, regardless of the fact that you landed on AC centuries ago. In my experience though the AI does not invest in spaceships once you've landed, even if your ship got lost in time.