I think it falls on the shoulders of us 'middle kids' to make sure that it doesn't fall by the wayside.
I'm 34, I've been quilting for 11 years now, but started sewing when I was 7. My daughter started sewing at 8, and has made a few doll-size quilts, and now is working on a larger one, will probably end up being crib-size in the end, it's kind of an organic growth right now. (she's almost 11 now)
Even my 14 month old son is showing interest in what I do. I'll teach him, too, when he's old enough to follow directions.
I have friends who have asked me to teach them to quilt, and they'll pass it on to their future children, too.
I think that quilting will stick around. Yes, there are going to be many of today's and future generations that say 'but I want it NOOOOOWW', or don't 'get' the value of a handmade item, but I think that's just, normal, I guess, sadly enough.
I know I won't give it up anytime soon!