Yes - with the weak emphasis from Apple I would have to say Apple will kill it and throw the "modularity" factor by offering a "low-end, single module" MacPro that in the end will cost more and compress the desktop crowd into one form-factor. I think I could live with that as long as they make a serious effort at upgradability, graphics and future-proofing - I'd call that acceptable in light of the current desktop situation.
That actually makes a lot of sense and very environmental