I get the desire to panic, I really do.
But everything we've seen thus far only argues that it's too soon to call.
Abandoning Mac Pros is walking away from a lot more money to be made from Final Cut Studio, because that audience will buy one. To eliminate the rather modest workload this machine entails and profit gained from it wouldn't make a lot of sense.
Less design effort goes into making the next Mac Pro than the next iMac, unless they actually do have a huge revision coming.
However, given that the Mac Pro is marketed as a powerhouse machine, may just be holding off on updating until they feel like they have something more substantial to put in it.
Given how underwhelming the last Final Cut update was, I actually agree with that sentiment.
Oh, and I know this may break your heads to read it, but there is actually more to Apple than Steve. And that's been true for a long time. He actually listens to some of his engineers, if you can believe it. If you think he designs or makes every single decision about every product they make, I've got a few bridges to sell you. Wouldn't surprise me if he ignored Mac Pro development completely until approving the final release or telling them to tweak it a bit.
I'd rather they waited until there was something much better to deliver. And I'll bet dollars to doughnuts that everybody on this forum, even the most vociferous whiners, would also rather wait for a substantial update than get an incremental, unimpressive one.