The casual gaming market will move to things like handhelds/phones or subscription services like Playstation Now (if it gets new titles) however consoles will be fine because of the dedicated market. Sure there may be a gap between big budget titles and indie (like there is in the movie industry) but there will always be a fan base and consumers for 'high end gaming' just like PC gaming still succeeds to a degree in this now console filed market.
Hmm, pie.