There's no doubt about it; people like books. They're unlikely to disappear, but there's no way they'll be able to compete with the benefits of ebooks once people get used to reading on electronics. Ebooks are cheaper, instantly available, and everlasting. To say nothing of the fact that you can bring as many with you as you want, access your home collection from afar, etc.

Vague things like "the smell of a book," "the way it feels," and so on may drive a healthy collector's market, but not mass consumption. Ebooks have cost and convenience on their side, and you can't find retail factors more important than those two. All hail the ebook.