I cant honestly say if mobile gaming will completely replace console gaming however I do think this console generation will be the last, there really is no point in selling a 300, 400 hell even 500 dollar device when there are other easier cheaper alternatives. The pc of course is one and perhaps tablet or mobile as well
It's hardly the last console generation. Both the Xbox One and PS4 are doing fantastically well. The problem is, mobile gaming is garbage. Most of the popular games are quicky little things you play when you are bored. Barely any of them have substance to them, they don't have good controls, and they aren't powerful systems. On the other end, PC gaming is an expensive hobby to have. Forget 300 to 500, if you are wanting to play the big PC games for the next 2 to 3ish years, you are spending at least 1000 bucks. 1500 to 2000 or more if you want to make that last longer.
And just to add, phones and tablets are not cheaper devices. They sometimes can be and it really depends on what you are looking at, and whether or not you get a deal with a plan if your company has them, but a lot of the new and powerful phones cost hundreds of dollars. I forgot what I bought mine for since it's on a plan, but I'm positive it's more than a PS4...5 to 600 bucks I think. A 128gb Ipad costs 700 dollars. And if you have a cheaper phone or tablet, you are unable to play most games. Before my new phone I had another phone that wasn't cheap at all, but wasn't high end (200 to 300) and the sucker could barely play Angry Birds lol
More of what I meant by "cheaper" is cheaper for developers and easier for developers, It's much easier and cheaper to develop for PC and tablets to an extant than a console or worse yet multiple consoles. I've heard the argument both ways as to whether or not PC's are more expensive for the consumer, as it stands right now they meet in the middle, Console games are around sixty dollars per big title brand new release and will eventually go down in price by three to six months... unless it's Nintendo developed or published. Sure the PC as a whole hardware-wise are much more expensive, however with most games using Valve's excellent steam service games are cheaper, require little marketing and are easier and quicker to develop.
I will and always will be a console gamer Im not trying to shit on consoles however you cant really make the argument right now since Sony and Microsoft have both said they plan on keeping the PS4 and Xbox One around for at least seven to ten years it's insane to think that they will stay popular throughout their entire lifespan and not only that you will also see a decrease in price for more powerful PC and Tablet devices and accessories