I think blu-ray will live for quite a while, but will be a bit like vinyl; there will be a consistent, niche market.
Why is that? Vinyl has some unique characteristics. But as far as I’m aware, blu-ray is just a storage format for bits, so other than the box art, what is compelling about a blu-ray pressing?
Hilariously, DVD production could potentially outlive Blu-Ray discs, since DVDs are still popular enough 30 years later, and surpass the sales of Blu-Ray movies.