3D printers cannot knit a sweater. 3D printers cannot carve wood. That may change some day, and we can cross that bridge when we come to it.

What I see 3D printers doing is replacing foreign labor for the production of cheap parts. "Made in China" will be as old-fashioned as sending a letter via postal mail. Toys will be printed at home, that obscure nut that your car maker insisted on using will be printed in your garage, etc. Your home decorations will be printed, and you'll be able to replace them at will.

Despite the availability of cheap goods made by low-paid child laborers in developing nations, people still pay top dollar for crafts. I doubt that will change because of 3D printers.