Bose-X,
My thoughts are that it already has!
And I run a microlight airfield and flying school.
My thought is that what has all but disappeared from the old GA world is the recreational flyer - in my part of the world almost the only people who learn to fly on Cessnas and Pipers are people thinking of, or working towards, a CPL.
So the microlighters have taken over the old "flying club" sector.
And now they want to stretch their wings!
(unfortunately, by relabelling the wheel, we'll need to come up with a new form of "microlighting"!)