I think the JVM itself will be Java's saving grace - languages like Scala and even Clojure now are gaining huge popularity that not only leverage the JVM and existing ecosystem but have the ability to rapidly advance and abandon Java's warts. So it's not like COBOL in that regard. Because of the power of the JVM ecosystem I think even Java's glacial pace of adopting new features will be enough to keep up for many years or even decades to come.