(1) During the 4.x cycle, Qt integrated a new declarative markup language called QML, as part of a new language + batteries module called Qt Quick. In Qt 5, Qt Quick has improved significantly and become a very viable choice for many interesting and useful applications.
(2) Desktop-type applications are not yet among those. While Qt 5.2, to be released toward the end of this year (currently it's in alpha) contains some new Qt Quick batteries to implement desktop-type interfaces that are quite promising, they're also still fairly young and rough, and not suitable for demanding applications.
(3) QWidget continues to be maintained and fully supported. It's mature technology that hasn't seen massive changes in the initial leap to Qt 5, but has nonetheless benefitted from many improvements in the core of Qt.
(4) Further, in Qt 5.2, the KDE community in particular (which is in the process of transitioning to Qt 5 and is a major stakeholder of QWidget, while also making strong and increasing use of Qt Quick) has upstreamed tons and tons of features and code that make QWidget and related APIs even stronger than it already was. Qt 5.2 is an exciting release for users of QWidget and QML alike.
(5) Qt is a proper open source project with well-working governance today. It's also a well-modularized, well-layered codebase. There are no significant roadblocks to caring for and maintaining QWidget for as long as the Qt community sees fit. At the same time, Qt Quick offers some compelling advantages and is likely to evolve as well.