The crappy DOM will probably change for the better, HTML5 apps will run as local apps and tap into the native APIs of the system.
Client = HTML5 + JS , yes we dont need .NET here, where .NET/C/C# and others will be used, will be in the backend, frontend/client can be perfectly made with HTML5 + JS.
The only exception is perhaps games and apps such as Photoshop, but 90% of enterprise stuff that is simply thin clients speaking to a big backend database+etc can be perfectly made with HTML5.
HTML5 is here to stay, .NET will be the exception. (Games/Heavy backend/3D apps/Photoshop) sort of things... nothing more.
Or who knows, maybe in the future with WebGL and what not even some more complicated games can be made just with HTML5.