And yet you don't buy an iPhone as a replacement for your computer. People still need a "real" computer, and for that reason we're probably not going to see computers go the way of the dodo in favor of iPads.
The only reason my parents don't use an iPhone as a replacement for their computer is the screen size. The only reason. For a reasonably large subset of "people" a 'real' computer is an unnecessarily complicated device.
Well, uh, isn't this how Apple is marketing the iPad? The thing you use when you're not out and about but don't want to deal with "the computer"?
The computing device that takes care of 80% of your day to day computing needs? (ie: Watching videos of kittens on YouTube)
And heck, even if that's the case and the "real computer" turns into an incredible niche device, do we even need the power of a gigantic desktop machine with 8 gigs of RAM and the super duper video card? I don't know about you guys, but all I need is a terminal and I can do 99.9% of the hacking I want to do (sometimes I use gitk).