The truth is I don't know what is going to happen in professional photography but I do know that technological innovation has always driven a new way of seeing. 100 years ago the 35mm camera was born and soon after that we got Henri Cartier-Bresson, the decisive moment and modern photojournalism. No doubt high quality cameras the mobile phones of a billion plus people will spawn another visual revolution.
As professional photographers we will have to negotiate that revolution on the fly. Already I see the visual literacy of the average consumer rising. That literacy makes good photography and talented photographers more valuable than ever.