A lot of stuff on this rack are here to allow the distribution of traffic across various services. So if you can fit everything on one box, you'd get rid of load balancers, routers, etc.

I think that by 2070, all the processing should fit comfortably on one chip, and all the data should fit in RAM next to it. And it's likely that by then, we'll also have Tb ethernet connections, that can withstand that kind of load.

So I would feel pretty confident that yes, in 50 years, this could fit in your pocket.