Interesting. There has been a big move to integrate the various components in a PC for a long time. This is nothing new. I for instance am fine with the integrated sound on my motherboard. I know it's not the best sound I can get, and there still seems to be a market for non integrated sound cards. There is no way this would oust individual graphic cards, and there is no reason it should. Besides, you still face the issue where you will then be using system RAM to fill in for video memory. And, you can buy motherboards with on board video, the central issue still being that you set aside system memory to fill in for graphic memory.
The way I see it is, there isn't a problem with PC gaming not being like consoles, the problem is that the PC is still years ahead in development and capabilities. I do believe it is an article I read either here or on PCGamer outlining some genius who said PC gaming is years ahead of console game, as if that is any news to anyone at all.
In the mid 90's, while Nintendo and Sega were using sprites, PC's started using full motion video. When consoles started using full motion video a few years later, PC's had moved onto polygons. Consoles start using Polygons a few years after that, PC architecture allowed for a lot more polygons and better lighting effects. Now we have hardware PhysX enhanced games, and one day consoles will too, only by then the PC community will have moved onto the next big graphical revolution.
I like the stability of consoles, but I don't think anyone wants the PC's held back because someone thinks we should be more like them.