I'd argue the exact opposite and that is POW is dead (except for Bitcoin) and POS is the future. Look at all the innovation with POS coins: NXT, NEM, Crypti. Where is the innovation with POW? Litecoin? Darkcoin? Titcoin?

Does anyone still believe that purchasing a machine for thousands if not tens of thousands of dollars to mine POW coins is still profitable?

Furthermore, as energy costs and hashrates continue to rise, fewer and fewer people will get involved with POW mining.