The analyst believes that the community will find other ways of expanding, possibly leading to the change of proof-of-work algorithm, as the most energy-intensive part.
Even now mining is not so profitable anymore, in the case if it is private one; only mining farms can earn something really worthy, but how many costs they had to organize the farm, it's a really huge money. I used to belive to experts and analysts - people will create something new which will continue to bring profit.