Thats a rather blinkered outlook. There is fun to be had on electric bikes, it's just a different sort of fun to what you're used to.
I do agree that in developed richer countries bikes will increasingly become expensive leisure toys, but the manufacturers won't be ignoring the rest of the world where small cheap bikes are huge business. If they're electric, petrol, or some other fuel remans to be seen. I suspect in the future people may look back at this era as one of fast development & innovation in bike design much like we see the first 25 years of the 20th century