Well it's an interesting thought, I think to be honest the larger companies will do the same as the large film companies, either embrace the Indie way of doing things and package up much smaller products in larger quantities and see which strike it rich or go to providing experiences the Indie devs cannot.
Indie games and smaller games companies are taking extraordinary risks and travelling new paths that the larger companies won't risk at the moment and more and more often it's paying off.
We as gamers want bigger worlds and more freedom to create our own experience with a game. Ironically the more time you spend on graphics the less you have to actually build larger worlds which is the problem large companies face at the moment.
They will either learn to care less about graphics and think more about the game experience itself or focus entirely on graphics and show us graphics the smaller devs can't.
There is room in the industry for both types of content to stay relevant, I think the term 'gamer' will become less relevant as the everyday average Joe playing CoD and Fifa is now a gamer then what the hell am I? I'm not sure the bigger companies will become less relevant, more that they will be relevant to a different market and our needs as 'hardcore gamers' or whatever we'll be called will seem irrelevant to those companies.
That's a lot of text but it's a tricky subject to explain my position on it, I have no idea how it will go but it's an exciting time to be a gamer and I'm sure we'll end up wherever the good games are. See you all there for biscuits and multiplayer.