There were quite a few threads that discussed this problem. E.g.,
http://forum.bitcoin.org/index.php?topic=6284.0
http://forum.bitcoin.org/index.php?topic=8126.0
http://forum.bitcoin.org/index.php?topic=9162.0

The were two camps:
1. The market will solve all the problems
2. Yes, but with a not too pleasant outcome for bitcoiners.