Seriously, what if the developers decided to change the block hashing algorithm from double SHA-256 to something else (WHIRLPOOL or SHA 3 maybe)? doesn't it renders ASIC useless?
Then the Bitcoin community would need to approve of this change with a large majority choosing to switch. However, the only reason to do so would be if 1) the ASIC miner were compromising the security of Bitcoin (not going to happen with BFL distributing these diversely), or 2) big-investment GPU miners make up enough FUD to scare people (so their income isn't compromised). So far, most of the panic seems to be #2, though I don't see what the GPU miners really hope to accomplish considering the subsidy halving will make them unprofitable either way.