Despite the sensationalist title of this article by FastCo Design, I agree with the core of the article: product design will not be the future of value for businesses or its users, rather it will be the creation of experiences. Experiences, I believe, that will be physical.
A recurring thought of mine has been the celebration of minimal design like the iPhone. I've always wondered, what happens when all unnecessary elements are stripped away? Will the headlining features remain touting inconsequential features like being ".1mm thinner" or made of "CNC'd aluminum"? Perhaps the only option will be to start adding elements back. Or perhaps we should focus on something else.
Personally, that's where I'm excited. I'm excited to see an emergence of design being treated as a multi-disciplined field where people collaborate to create layered and immersive experiences instead of one guy/gal is wireframing stuff on his/her computer screen. I'm excited for UX to enter the physical world, the reimagining of spaces, of product families.