Well, I don't think it will be like that, I think it would be a top currency and the top in online transactions but not to the degree of being that expensive. Let's hope this is true.
I am quite sure that Bitcoin will surpass PayPal within 2 to 3 years in terms of transaction value. Bitcoin can be valued less than $600 per coin and still surpass PayPal. For this to happen the price doesn't need to be that high. Comming close to debit card companies will be a very tough job. But that's not really something we have to deal with right now.