I believe Wayland window managers [1] will replace most of X11 for most users in a couple of years, but X11 will still be around to run legacy apps (similar to the way you can run X11 applications in
I also think that Wayland will replace X11 in the way that most of the X11 developers will move to Wayland. X11 will still be around, and probably still be supported by window managers for quite a while though.
1. Wayland is actually the protocol/API, which window managers/compositors and the applications that run in them will implement. The reference compositor for the Wayland project is called Weston.