Re-read this blog post with every mention of "Google Reader" replaced with "Google Search" to get an idea of how ridiculous a notion it is that we should just shut up and make our own in a couple of months. Granted, the scale isn't quite the same. Google Reader is not as difficult to replace as Google Search would be, but it is far more difficult than he thinks.
Having said all of this, it is absolutely Google's call if it wants to keep Reader going or not, they don't owe me anything when it comes to Reader or any of their other services that I don't pay for, but OTOH shutting down Reader does mean I'm going to think twice (or four times) about adopting any future Google service. They've now established quite a pattern of killing off things I've grown to depend on, and they are free to do that, but I'm free to avoid their services for fear of being burned again.