Long Short-Term Memory-Networks for Machine Reading
gitxiv.com
gitxiv.com
As someone who does this professionally, this is a good thing!
Ideally if you have a good parse of the text from step 0, you don't need to do nearly as much munging/processing yourself, and can just focus on the thrust of your specific algo, rather than cleaning and generating the feature data to drive it.
I'm personally very skeptical as to if this will make feature engineering disappear entirely, if for no other reason than that we do a lot to tweak our features other than just _getting_ them, whether this be second order processing, aggregation, smoothing or transformation. That being said, as with your parent post, I am VERY hopeful for new techniques to arise that can cut into that overhead at least a little.