I don't feel that video art will ever become obsolete. It is here forever. There is far too much enjoyment in this art to lay it aside. Many hours of enjoyment is also in the making of videos as well as the viewing. I personally have created my share and have received as much if not more enjoyment from it as those who view
Video art is evolving everyday. Everything today has some involvement with video art. Whether it is a presentation of a business or or political media video art in involved in almost every aspect of business or media. Also video art is a great way for further great productions and presentation.
If anything it's become more prominent as the ways to display it have evolved. Videos are what captivate people now, and they can get them whether they're in front of a computer screen or not. Video art is by no means on the decline, it's on the rise ad one of the more frequently utilized artistic outlets there currently is.
Video art, unlike print or other forms, has just begun to "get a sense of itself" in terms of creative ability as well as the forums in which it is most effective. New ideas and methods are constantly appearing that take the genre one step further. Just as oil paint on canvas has continued to evolve over hundreds of years, video art will do the same.