Some people think Blu-ray is on it's deathbed, or at least that it will never reach the success of DVDs. They could be right; broadband is continuing to challenge physical mediums (sales of DVDs are down too.) On the other hand, Blu-ray is a useful format for HD content; the question is will a mass audience adopt it, or will it end up being used more by content developers? Blu-ray may just be a good way to back up large quantities of information.
Not surprisingly, Sony thinks that Blu-ray's future is still bright. This article on Sony's Electronics Blog say's that everything will be fine: "Expect Blu-ray to Live on Despite Reports of its Imminent Demise".
Meanwhile, Apple still has no Blu-ray support, the biggest reason I have held off getting involved in the format. I just get by with anamorphic DVDs instead.