Let's just hope it doesn't, otherwise we would be left with Intel owned Havok only, no competition. What you all don't get is that OpenCL, DX11 Compute and etc are not complete physics engines, PhysX and Havok are. OpenCL, and DX Compute are APIs or platforms (you can build on top of them) that enable and make it "easy" creating GPU accelerated physics, but it already existed a platform that enables the creation of physics engines and that it's the easiest of all of them: dadaaaa... x86
As a game developer, under x86, using C++ (just one of the alternatives) you can easily create your physics engine, no need to deal with APIs or extensions. There's no easier way of creating your own physics yet most game developers use either Havok or PhysX. Epic games and apparently EA uses PhysX (CPU PhysX running in x86, in Xenos, XB360 CPU and Cell, PS3 CPU), as well as many others, but Havok has/had a greater market share. Anyway, between both, they easily make 90% of the physics that we find in games. In fact the only developer that makes their own physics that I can think of now and that actually has some good physics is Crytek.
So under this circumstances. When most developers choose to use 3rd party engines for the relatively easy physics that can be done on the CPU, do you really think that because now they can make them run on the GPU (allowing for far more complex physics) they are going to start making their own engine? Did the introduction of pixel and vertex shaders make developers create their own 3D engines or did they continue using Epic's or ID's engines for a long time? How many developers have their own engine versus a 3rd party engine even today?
PhysX or Havok are not going to disappear anytime soon.