We are slowly moving toward it. In fact, people have been talking about it for almost 50 years – so even before Twitter and Facebook, people were already thinking that we are headed that way.
I heard this week that the web will soon be images and videos. More and more, we are being conditioned – to not think – to not read – to not create.
We will become more media-literate and technologically-literate. We need to start thinking about how we are going to teach and inspire to a generation of non-readers.
identitySPECIALIST 
Still, nothing can change the experience reading. You can’t copy-paste a ‘paragraph’ in a video for reference (or at least, not yet? or I just hadn’t known how to do it yet? :P)
You are definitely right. Reading is still important. We are reading but we arent getting lost in our reading.
It’s possible to cut and paste video these days.