Nope--as long as there are dedicated people like the Japanese buying 2 million copies, they'll keep making them. Thank goodness--because I'm one of the few Americans that would probably never have a reason to buy another console since I hate shooters and find WRPGs a complete borefest due to crappy stories that don't progress because of "open worlds." JRPGs have a knack for actually making you CARE about the characters--which I love. At the end of most WRPGs I could care less if any of the characters die because I don't really know or understand them.
So do BioWare RPGs
I agree to a degree. I didn't care for Mass Effect (haven't played Mass Effect 2 yet), but I did like Dragon Age a lot (And I also was a hardcore Baldur's Gate fan back in the day). I still don't think it has the emotional capacity of a great story driven jrpg like FF. Heck, I hate to admit it, but Final Fantasy has actually brought me to tears before! Actually more than once. Even Lost Odyssey had a strong, emotion tugging story to it. I just don't think I'd find much joy in gaming anymore if JRPGs disappeared.
When I talk about WRPG borefest, I'm referring more to games like Oblivion--where the story was just a moot point. I actually finished the game and really don't remember anything about the story because it was simply about exploring and trying to make your character stronger.