Not buying it.  In many (read most) small companies, the dev is the SQL guy and the software developer.  Most small company devs will leave TSQL quickly since working in one language is easier than two.  It will take longer for large companies to switch as they move slower for good reason, but small companies are usually the first indicators of where the industry is headed.  With the switch to dotNet and many apps being rewritten, it won't take long for TSQL to become CLR code in most shops.  The great news is that TSQL developers willing to make the switch will likely find good jobs over the next decade porting code. 

Also, TSQL is horrible... let me say it again... HORRIBLE as a language.  CLR is better and I speak from experience.  This has been coming for years and all the major commercial SQLs will all switch sooner or later.  I can see MySQL and smaller engines staying in SQL syntax for a while, but it wouldn't suprise me to see some PHP or similar engines being fitted for them as well.

Just like COBOL had to die and VB Classic will soon be pronounced, it is time to stick a fork in a language that should have been dead years ago.  I get that DBAs with little or no programming skill might be worried, but in my experience it isn't the TSQL that keeps a DBA around.  It is the tuning and maintenance which software developers generally don't want to do or are incapable of doing.

My last comment on the subject is don't be an ostrich on this one.  If you do, you will likely pull your head from the sand and realize that a part of your skillset has been rendered obsolete.  I still remember my COBOL friends from the mid 90s saying there is just too much tested COBOL code to replace.  COBOL will be around for my lifetime.  That VB stuff isn't as solid and proven.  Yada... yada... yada.  They all eventually converted and unfortunately for most it was too late.  Being the new kid on the block at age 50 just isn't pretty.