Hell no. Real techie software is basically a third-class citizen on smartphones at this point, with the promise of being locked out even more. The cloud is not a solution to everyone's problems, thanks to what it can or cannot do (technical problems), and thanks to the fact that some just don't trust it or don't want a recurring subscription (socioeconomic factors). If you ever want to upgrade the hardware, you'll also need somewhere to install it, and dongles won't suffice.
Some people may be happy with this future, much like people who create and process lightweight office documents on iPads. But there will always be demand for singular PCs or laptops.
There's also still a market for horse drawn carriages. I don't meant that flippantly, but that the advancements in technology make things like the Novena laptop a possibility. It sounds like something like the GPD Micro PC is much more your speed.
Some people may be happy with this future, much like people who create and process lightweight office documents on iPads. But there will always be demand for singular PCs or laptops.