Probably something similar. Like the 80s and 90s we will probably get another wave of upgraded desktops overtaking the server upgrade cycle, with desktop power and storage jumping ahead and making the shared resources seem constricting and economically inefficient, and then developers (and users) will rediscover how much better things run when utilizing the greater local resources.
We will then get a decade or two of young programmers rediscovering what that 'unhirable' older ones already knew, holding themselves up as visionary geniuses for realizing things that those 'behind the times' client/server developers were 'doing wrong', attracting hype and investment dollars while repeating the same mistakes people made (and learned from) 2 generations ago.
Rinse, lather, repeat.