Ask HN: Is Node.js indeed the new PHP?

I'm sure all of you have heard the recent hype claiming that Node.js is the new PHP. Lots of new startups are using it (and some established companies like Walmart) and it seems to be poised for a boom in both the job-market and in the market adoption side of things.

So I ask you, do you believe that Node.js is on the precipice of mainstream adoption? Are you planning to build with Node.js or migrate existing projects to it?

What say you HN?