Resolution is the major feature of the photographic process.
I'm not really sure that I can agree with that statement - I could, however, agree with a statement along the lines of capturing the moment is the major feature of the photographic process.
Consider the rise in popularity of camera phones and there use by teenagers to take pictures and then send them via MMS to their friends, blogs and other interested parties. This is still photography and is the process of capturing and sharing a particular moment. I don't think anyone here would state that a camera phone is the tops for resolution or quality, but for the purpose of capturing and sharing the moment it beats the pants off a 1DsII (though I believe that the 1DsIII will have the same sensor but integrated bluetooth and cameraphone ;-)
As to the point that demand, or need for, a new camera will dissipate once the peoples desire for resolution (and dynamic range) is met is a fallicy which misses the dynamics of product management/marketing. There is always an improvement that can be made to a product and/or its image and latent (either realised or unrealised) demand which can be met through innovation.
As an example. If I asked do you think bluetooth would be a good addition to a Canon DSLR then most people would say no (mainly because it is associated with mobile phones and connecting a handsfree headset). However, if I then explained that you can by a bluetooth GPS receiver for USD20 which can be connected to the camera wirelessly (i.e leave the receiver in your bag and use the camera) such that your location is embedded in the image when you take the picture - then people may start to get interested in such a concept.
If you could then start using bluetooth so that you could adjust flash settings remotely, or configure the camera and release the shutter via an application on your mobile phone, then perhaps people are starting to think of other imaginative applications that can be developed just be including a USD1 Bluetooth transceiver into the camera.
It's about time we changed our concept of how the camera should work to best meet our workflow and how we can improve its usability by incorporating new technology rather than labouring on about pixel pitch, resolution and dynamic range - though still recognising that resolution is important there are other ways to differentiate a product that Sony and Samsung will be focused on long before Nikon and Canon.