What Chris said.
As per your post, given how many photographs are taken nowadays I can't see there being a shortage of everyday images from now in years to come. Although a very real issue is how many of us are saving our photos, so many people take no care about ensuring there's a future for their digital files.
But photography as a hobby has expanded in all directions and it's difficult to see an end to that expansion.
The archival permanence of everyday, vernacular photography is a great worry to me. The vast majority of people I know... not professionals.. just everyday, non photography oriented people have no regard for data integrity or back up. Most leave their photos on their iPhones un-backed up, or their laptops, and then forget to save them when they sell it, or even if they leave it on a train one day, never to be seen again. Back in the day, even if you didn't care, there'd be a box of negatives in a loft somewhere, waiting for someone to find during a house clearance after your death. These became a matter of vast curiosity to historians and artists. What will this generation be left with? The legacy of this will inevitably be orphaned in the cloud no doubt, but there's a definite lack of permanence associated with photography these days, and I think that shows in the style of vernacular photography these days too. It's not a bad thing, but the aesthetic of the vernacular has changed massively since the mass dissemination of imagery via the web.
Another worry is what future generations will make of photography from this period of time. The plethora of over processed, manipulated rubbish of the casual hobbyist, and the vibrancy of the snapshot aesthetic is greatly different to the prescriptive, formalised family snapshot of yesteryear, and the clean, obsession with reality in more pictorial photography from a few decades ago.
Previously, snapshots were taken in a totally different way, with it not being uncommon for the same roll of film to languish in the family camera for a whole year, with summer holiday shots at one end of the roll, and Christmas at the other. The poses were formal, and full of people saying "cheese". You only have to browse facebook now to see how the vernacular has changed. To me.. that's where interesting stuff is happening actually.
In 50 years time is anyone really going to be looking back at yet another sunrise or fluffy waterfall? I think it is our responsibility as photographers to document our everyday lives and surroundings.
Look back at photos from the 50s, 60s and 70s and it is always everyday life photos that you see - did nobody take sunsets and sunrises in those days or do we just not see them as the interest is in the fashion, surroundings and lifestyle?
Discuss...
People are still taking good documentary images, and good street images, and great reportage images, but the hobbyists these days seem to be going through a period of process led image making fuelled by the accessibility of image making compared to a couple of decades, or even perhaps as little as one decade ago. You only have to look around this, or any other forum to see the absolute reliance on post processing, and the sheer ubiquitousness of it. The thought of shooting something and doing nothing more than adjusting levels is unthinkable, whereas the holy grail of 2 decades ago was the perfect transparency straight out of the camera. Fact: It's far easier these days to produce good looking images than it was when you only had film to play with - you can get away with more now than you could then. That's allowing those who perhaps would have given up with film to carry on. That, in essence is a very good thing of course, but it's also a very bad thing. Some people.. most people if we're honest about it, would rather get the results without going through the years of practice those who learned on film needed to do.
Those who will be disagreeing with that statement are not the subject OF that statement however and the ones I'm referring to will probably not be taking part in this debate anyway I imagine.
As for fluffy waterfall, sunset, flower (including insects on flowers) and other purely technique driven imagery, well, that's actually always been there, and has been the mainstay of the hobbyist photographer for as long as I can remember. Nothing new there. It's just more prevalent now, as more people are treating photography as a hobby... because it's more accessible, and easier than it ever was. 20 years ago, most people who regard this as a hobby now, wouldn't have bothered with it: Too expensive, time consuming, and difficult.
At the end of the day, you shoot what you want, and to hell with everyone else. We all have our preferences.
Having said that, the 'net' is probably here to stay so it's a question of how much effort and money is put into format conversion, which is what is required to keep the content current. I can't imagine there'll be a great deal of archiving of older stuff, although as long as there's organisations like the BBC making permenant records then we should retain more than mere snaphsots.
The "joys" of facebook/twitter/instagram would tell us that 
