Just what I think, but I've seen more decent titles for PC than on consoles in the last year or so. Could just be cyclical stuff, but I very much doubt that PC gaming is going away anytime soon. While it doesn't 'just run' the way console games will, the ability to modify existing games, as well as the lower barriers for amateur programmers to create games, throw enough games out there that there are a few gems here and there. Granted, there's a lot more crap to dig through, but I feel it's worth it if we wind up with even one good game for it.
The other factor is the 'perpetual beta' lots of PC games tend to fall into. DF, for example, has been in alpha for years. A lot of the time, this just means that you're paying to do QA for the game if you buy too early. On the flip side, however, the lack of a fixed medium like a blu-ray disc also allows for a longer development cycle. In other words, because you can download the game at any time, the game's maker doesn't need to scramble to finalize the game before he/she goes broke. DF is a fine example of this: using the traditional console model, Toady would have had to finish and polish everything before it could be released.
One final consideration is that the PC can be much more multi-purpose than consoles, and also doesn't have issues with platform-specific games (you can't run Halo on a PS3, but you can run Steam on any computer with decent hardware). Modern consoles are definitely becoming more versatile, but there's still a tremendous gap there. Due to this, someone who doesn't game much would likely have a (possibly crappy) PC on hand anyways, but would have to actively go out and buy a console system.
I don't know that consoles are going away, and there is some interesting innovation going on with regards to that front, but I'm sure that PC gaming is going to be with us for a while yet.