Interesting musing, I am guessing its a boring weekend

I would agree, in the US the AR is king at the moment, and why not, its a better 'shooters' rifle than most of the 'traditional' rifles out there, and gives the people what they want.
It (they) will not replace a 'regular' hunting rifle for larger game, but in reality the 'traditional' rifle only exists in quantity in the minds of delusional old men who yammer on about pre64s in 270...blah blah blah. Look at what is selling today, stainless guns, synthetic stocks, savages (ewww), scopes that have a magnification level NASA don't even have, red dots, picatinny rails etc. IMHO the traditional rifle is dead, like the model T. People have more choices, and the majority are steering clear of a classically defined hunting rifle.
If you mean will it replace bolts actions in general, no, not in the Commonwealth, where there are to many restrictions, but in the US it seems to be happening. That said, while its interesting to see everyone in the US jumping on the AR platform bandwagon, its also interesting to see small gun makers popping up to fill the voids in choice left by the big makers. I mean 10 years ago who would have thought Nosler would have a rifle, or the other dozen or so similar small makers/assemblers. We live in the golden age of guns, there are more choices than ever before, as with cars, but senile old dodderers will continue to insist the good times have passed us by.
Ultimately no one can predict what will happen, lets face it, all it will take is some hokey US politician to ban or restrict more sales outside of the US and then where would we even get bolt guns?