"But I wouldn’t call it the ”future of our hobby” if that phraseology is meant to include all-new massive steamers Lionel produces today."
It's the future of the hobby insofar as reasonable volume sales are concerned. The public is not going to be buying thousands or tens of thousands of $1,000-2,000 locomotives ever is my guess 
. If one expects or hopes the hobby will be around in 20 years, it's going to be due to Lionel and LC/LC+ type locos in sets that are affordable for a larger percent of the buying public.
Lionel's brand recognition and the continued ability to purchase a set for $150-300 street price will make or break the hobby in the longer term. It won't be MTH, which might or might not survive Mike Wolf's eventual retirement or sale of the company; it won't be Bachmann's O gauge lineup and it won't be 3rd Rail for sure.
Personally, I'm not concerned about the 20+ year future due to my own age and my general feeling that "what will be will be." But it's important to some folks and I like the idea that people will be enjoying a three rail toy train around the tree or similar pleasure in the year 2050 as they were in 1950. Most folks, perhaps almost all, buy a set and a few extra cars, some track, maybe a second locomotive and that's it. For that relatively dominant segment of the marketplace, Lionel and LC/LC+ are pretty much the only game in town for the future of the hobby is my prediction.
