I don't see why people would bet the future on something that is thermodynamically doomed.
Never underestimate humanity's willingness to destroy itself in the quest for wealth and power.
Also I wouldn't put behind well financed groups that hire PhDs to find a way to accelerate the PoW enough to gain a significant advantage (as in, ability to centralize the blockchain).
That wouldn't do anything to energy consumption. It would just increase the hash rate.