I think bittorrent in it's present form will die, but I see evolution in the protocol.
If you think about it, the bittorrent protocol has already evolved somewhat with the introduction of DHT and the trackerless torrent.
The base protocol is sound, in that you share as much as possible amongst as many peers as possible, spreading the burden of the upload.
Building on the base protocol is what will take this clever system into the next decade. DHT is one thing, but imagine the power of searching, or being able to locate a specific hash, and allowing your client to do the rest.
One thing that will change, though, is the future of small trackers. As bittorrent evolves, so will trackers need to. If they don't, they will disappear.
As for something better coming along, an improvement maybe, but a replacement no way. Bittorrent is already an optimum sharing system, which cannot be easily improved upon within the confines of the existing architecture.
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