The idea that .NET is going to be replaced by HTML5 and JavaScript is absolutely ridiculous. The only people who can make that claim are those who don't really know what .NET is. It is a desktop stack, a server stack, a runtime for many languages, those many languages themselves, and countless libraries that are being actively developed. HTML5 and JS is a minimalistic client side technology. One cannot replace the other. They are not analogous technologies.
The biggest changes that could happen are:
1. HTML5 and JS become another presentation layer for .NET apps.
2. HTML5 and JS get hooks to allow it to be used to write basic App Store style apps and gadgets. (Gadgets are currently written in html and js so there would be no change there.)
3. HTML5 and JS become another dev platform for the Windows Phone.
4. Silverlight gets slowly phased out.
That is, unless you believe that Microsoft secretly worked for 5 years to create a dev platform that is based on a technology that became popular just last year that can be used to replace every development technology like C++, .NET, etc., and that can be used to write anything from server side apps to games to database servers to operating system components. Do you really think that Microsoft is that good of a software company?
But of course, this is all speculation, just like all of these sensationalist articles and threads. And nothing of value can come out of this. I can't wait for the formal announcement to be made. The amount of retarded discourse that the Win 8 announcement made is absolutely depressing.