No way will the traditional mediA become obsolete. What will happen is that the world will be devided into two -
1. Those with a bias for digital manipulation in all stages from conception to rendering and
2. Those with a bias for tradtional methods from conception stages, often through to rendering, leaving digital skills for editing and further manipulation.
I have friends who talk of never touching a pencil or brush again. When they find themselves in situations where there is no electric power, their already atrophied finger muscles will not work, and I have an edge over them. Industry knows that and will value those who are dexterous with pencil and rubber/brush and paint as much as the they value the digital geniuses. Secondly, how will Wall Branding and Signage in remote corners of the earth ever be covered by digital media?
I see a situation where the digital media will cause art to degenerate to a stage where the world will crave for the classical era of TRADITIONAL ART MEDIA