Never fear, web design generalists: many companies and organizations require your services and always will—from universities still seeking “webmasters,” to startups seeking seasoned folks with multiple areas of understanding to direct and coordinate the activities of younger specialists. But if jack-of-all web work is feeling stale, now may be the time to up your game as a graphic designer, or experience designer, or front end developer. “Diversify or die” may be overstating things a bit. But “follow the path you love” will always be good advice.
Design will never die, now will it? There is a big, wide design problem ahead of all of us - how do you meld experience between mobile (clearly important), web (clearly important) and other screens (TV, other computing models) etc.
This is unsolved. Worse, this is not solved in a standards oriented way. HUGE opportunities ahead. :)