Do you have math to show this? I was struggling at end of my GPU day's to make more then electricity. I was better off and I parted all my GPU systems out.
I have one sitting doing nothing still I kept. It's a small unit compared to the 5 and 6x GPU machines I was using.
The continual development of new algorithms for GPU's seems to not let them die out. The concept of GPU mining seems to be a self perpetuating fantasy empowered by the GPU miners themselves.
If you live where electricity is cheap, eg. USA/China/etc then you may still be able to make a profit versus electricity cost but to turn a profit and pay for your investment is another matter. Most places around the world though it is simply impossible to make a profit. Another factor to consider is the time and effort setting up GPU systems and ensuring they are stable with the endless new algos. This takes a lot of time and time is money for most people. IMHO better to get a rock solid ASIC and mine with cheap electricity if it is available and see what comes of it.
Well I don't think that GPU mining can survive, just as it didn't on Bitcoin. People can keep developing newer algorithms for GPUs, but eventually ASIC miners will come out for them.
I guess it comes down to a race of who can adapt faster. GPU mining is inefficient and should die.