The changes have already begun. First the largest game expo, E3, was killed off and brought back as a shadow of its former self.
Then we've seen the rise of the indie game. Braid and World of Goo have shown to be excellent examples of games that cost very little ($15-20) and provide a compelling experience.
Large studios are investing less into smaller games, like Valve did with Portal, and earning better profit margins by distributing them digitally.
There will probably always be blockbuster games like Grand Theft Auto, but the market is splintering. Millions will continue be lost in many of the big studios.
I personally think it's healthy. As a huge consumer of games, I don't think there's ever been a point in time when there's been so many amazing games available.