I suspect that the nature of bookstores will change, but that they'll still be around.

One thing that people need to remember is that ebooks only work well for certain types of publications or for audiences that access those publications in a particular way. (Example: novels work well since they are easy to format for everything from mobile phones and tablets to ereaders. Technical publications only work well on tablets or computers, which only works well for a subset of the population.)

Specialist bookstores will probably become a larger part of the market. General bookstores will probably shift towards best sellers, non-fiction, and children's books.