Death may well be in the future, but it will not happen in a year or two. VoIP still has some maturing to do... lots in fact. Voice demands just aren't the same as data.
On top of that, you just don't replace a Central Office or a large business PBX overnight. Tons (more than you can even imagine) of planning is required even before the first circuit is swapped out. Implementation of that plan is still another time intensive issue. A press release is only the begining of the process.
The packet switching announced may not even look like you expect. It can take many forms. If it works too much different (from the subscriber's point of view) than the current system in place, it will be a tough adjustment. Most people never know if they are talking over fiber or copper. How can you tell? As long as your call sounds clear and gets through, no one cares. The Technology behind that has been changing for decades, most are cluesless about how a call is connected or what technology is behind it. When that change comes, you are not going to know if you are on a Circuit or Packet switch.
Technology evolves, there is not question about that, but the Telecom industry is not the like the computer industry, though. One Central Office supplies service to thousands of lines. Even if VoIP was mature enough today, it will take traditional circuit switching years to be swapped out - it may well be many many years before you can declare traditional circuit switching a corpse.