Yeah, I have a similar sentiment on SEO as tetrapak and iowadawg. Formally, I'll admit SEO is still around, and still important, but fundamentally everything comes down to offering great products and services, and any good business person should have that as one of their top priorities anyway. Good search engines reward that. Good social networks reward that too. They do so because that's in everyone's best interest.
What I think is increasingly happening is that SEO begins to overlap exactly that, and as it does so it becomes almost meaningless as a term. If all SEO means now is making great products and using marketing practices which mostly make sense regardless of search engines, then there's no need to call it SEO anymore, and not calling it SEO cuts us from its ugly origins and associated connotations: spam, gaming the search engines, and other things which can rightfully be considered as fraud - trying to get unearned traffic.
It may very well be that some time in the future we will look back at the SEO era and wonder how did anyone ever think this was a good idea: creating search engines for the purpose of finding good quality, relevant and important content, and then allowing them to be gamed in ways that have nothing to do with quality, relevancy or importance. If any other variable other than quality, relevance and importance count, then it defeats the whole purpose of having such a search engine.