Yes, photography is going to change, but they have some things wrong.
DSLRs aren't going to feel pressure form camcorders, quite the opposite. Camcorders are getting crushed from all sides. Cell phones, point & shoots, and DSLRs with good video. At every price point, the camcorder is getting attacked by something that also shoots stills or does something other than just be a video camera.
The other thing is that there are only so many advances you can make. You can't beat physics on the optical path, and high resolution small sensor area = optically bad stuff limited by physics rather than materials science.
In small form factors, there's still a lot to do with reducing signal noise and thus increase low light sensitivity and frame rate, but with a small lens and small sensor, your resolution and sharpness will be limited by the optics of both the lens and sensor. With a small sensor you also are limited in how much depth of field you can get as well as how wide an angle you can go. From a cost and flexibility standpoint, they probably will be able to get over some of that with small lens/sensor arrays built into one camera. But the whole device may not be smaller than anything we have now. Then of course you have data storage. If you start going to 4k frames at high frames per second, you run into storage issues. Heading into an age where your average family get together requires a raided fault tolerant 4TB storage device with more like 16TB of actual storage medium on the device to avoid read errors, that may take from a few seconds to spit out your frame to a couple hours because it has to perform error correction... well, it might be a harder sell than you think.
Calligraphy is a dead art? no, Calligraphy doesn't get used to write letters. You can still find people who actively craft pretty things with it. Photography isn't about capturing a 1:1 realistic image of something. It won't go away either as an art form. As a means of documenting something, yeah, it will probably become obsolete for something more comprehensive.
lamparty
Darn, finally a camera I could actually get good pictures with and I'll probably be dead before it hits the market!