I have done a lot of research on this, got some contacts in Telnic and ICANN with whom I have had interesting conversations on this topic. This is what I gather could be the most probable situation in the domaining world.
1) In the next few years, Domain flipping will decline into oblivion and no longer considered as one of the mainstream online money generating system.
2) Launch of new Generic TLDs will have very little impact on the domination of .com, probably because of:
a) The initial price
b) The non-acceptance of other TLDs over .com by the general audience
3) We will slowly see opening of more and more ccTLDs for public registrations and a possibility of popular ccTLDs, such as, .me, being taken back by the respective countries, such as the situation with .co (Colombia) country level extensions.
4) A guy from ICANN even suggested that a rival company to theirs could come up in the next 10 years or so to start promoting the so called "unethical" domain extensions, such as, .warez, .****, .torrent, .p2p, etc. Though the current setup does not allow a rival global Domain Management Company to be formed, things could change, since ICANN has been seen more and more as a US Government entity and not a global company. China can play a huge part in setting up a rival to ICANN.
Please note that these are just pure assumptions, and in no way there is even a tinge of official taste to it. But these very well, could be possibilities.