Of course

The media is getting some pretty decent mileage on "Is IPSec on borrowed
time?". What hasn't been said is that each has its own advantages,
disadvantages and best use. The values that (can) differ with both
implementations include: the layer(s) where encryption occurs,
authentication mechanisms, the layer(s) where encapsulation occurs, and
situations where it's best employed.

I think what we'll see is
peaceful co-existance, in the toolbox.