Technically, yes. Realistically, highly unlikely.
What's going to happen, at best, is that email service providers like Google and Microsoft will begin to support Persona. Either as a replacement for OpenID, or in addition to it. A negligible minority of the human population, such as regular HN readers like you and I, might opt to implement Persona on our own servers, but everyone else will remain hostages of their respective email service providers.
Once that's working @university.edu and @bigco.com would authenticate directly with the organization. That'll be huge. This is a very very high value feature, I expect it to be the driving force for adoption.
One of the big challenges of large organizations is shutting someone off once they've left the company. This provides very unintrusive way to do so for applications that use Persona. I could see large organizations requiring that all logins use Persona (and the @organization domain).
By using a browserId enabled user agent/browser and an email provider who has implemented the browserId -protocol you already have a fully decentralised Persona experience.