Maybe it won't. What he said has some truth, but I wouldn't go as far as to compare journalists to blacksmiths. I think journalists are more like photographers. Thanks to developments in production (digital cameras and PC) and distribution (Internet) tools, anyone can show off their photographs. But it does not make every photographer part timer or hobbyist. The most talented and devoted ones remain full-time.
The business model (or job description) may change, but not like automated machines replacing blacksmiths. The participation of amateurs will increase, but the better ones among them will become pros. Actually, we are already seeing them. Is Michael Arrington an amateur or a part-time hobbyist? You could say that he is a blogger, not a journalist. But I believe Chris Anderson shares my view, which is "what's the difference?".