If web pages and internet connections become as fast as the other programs on your computer, will all programs be on the web? Why install something on your hard drive when you can get the same experience in your browser? Security issues are the only problem I can think of at the moment, and I'm not even sure how relevant that concern is. I suppose some developers might balk at having their code be open source, although it seems possible to make the code unreadable to most.
It feels like this is an inevitability. If that's true, then good web developers should be easily employed and handsomely paid. Hopefully that will be me in a few years time.
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