It's possible but unlikely. The Android phone business model guarantees that updates will be a mess. Putting Android updates on older phones decreases the likelihood that people will buy new phones, and it costs them support and engineering to put out an update.
Carriers don't want you to buy a new phone; they want you to pay a monthly bill. Android gives the carriers control over your phone. This is part of the problem with the argument that Android is about freedom and choice. For contrast, note that the 2 1/2 year old iPhone 3GS can run the latest version of iOS because Apple maintains strict control over the hardware platform to the benefit of the customer, and Microsoft has similar control over Windows Phones to align third-party devices with an OS roadmap.
Android has greater total marketshare due to an abundance of budget phones, but marketshare isn't what drives business; it's profits and customer satisfaction, and the iPhone is the top-selling handset because of the control Apple enforces on its platform as well as the one making the most profit. The narrative is not Android versus Apple, as if Android is some big company--it's Apple versus Samsung versus HTC versus Motorola versus Acer versus Asus verus Coby versus Coby vs. Sony-Ericsson versus Fusion Garage versus RIM versus HP versus Archos.
Seamless experiences always win out over time. We saw it when gaming shifted from PCs to consoles, and now the industry is shifting from desktops to mobile devices. Fragmentation is a huge for users.