BTW... this guy has a killer portfolio. Take a look at this level of photography, presentation and killer creativity and enjoy. As for the article, read the whole thing.
Important distinction: Yes, the marketplace is absorbing images from amateur "photographers" who have no overhead, since they likely have other jobs. (Read iStockPhoto, Flickr, etc) Yes, in many cases, those photos can be licensed, or (gasp!) even purchased outright for a handful of meager dollars. Yes, some agencies have digital cameras and are sometimes taking pictures that they used to contract out for... BUT if you're worried about (basically) non-professionals stealing your job or your income, then the last thing you need to be worried about is the great quality of new point-and-shoot cameras and how you can suppress this... - you need to focus on YOUR business model, the quality of YOUR images, and even moreso, the quality, level of service, and problem solving ability that YOU'RE claiming by even calling yourself a "professional" in the first place.
Thus, the message is this: if you're livelihood IS somehow in jeopardy and you find yourself somehow getting hammered as a professional photographer, you shouldn't worry, you should focus your energy and become a better artist and business person. Remember, whether you think you can succeed, or can't succeed, you're right. Examine your business model and your skills and ask yourself: How can I change and grow? What are the new opportunities that this changing environment can offer? What do I have to do to differentiate my work from this new wave of low end photography out there? Dollars will be there for anyone who understands the market and creates great pictures.