Nah, PC gaming isn't going anywhere. It seems like every time a big dev goes for the "cash cow" approach, a new indie/smalltime dev steps in to fill the empty space. So yeah, there's a lot more crap. But there's still a lot of gold.
It's just that there's a new casual/web genre that has sort of split off from PC gaming. But they're not the same thing. The interest groups for Farmville and Gratuitous Space Battles do not intersect. They're different worlds. That's what I mean by "not the future of PC gaming." Farmville is definitely part of the future of gaming, but it isn't going to interfere with PC gaming as we know it. Because PC gamers don't want Farmville, just as Farmville gamers don't want "real" PC games.
And in regards to your comments about "the good ol' days"...have you played "Digital" yet?
http://scoutshonour.com/digital
PLAY IT. You'll love it. It's free.