I think wakeskating is here to stay. Growth may be limited compared to wakeboarding, but it still has tons of room for growth at this point and like someone else said you don't have to have a $30k + boat with a fat wake to ride one and have fun.
I know guys that ride only the wakeskate and if you told them it was less work than wakeboarding I think they'd disagree. Then again, it depends on how you ride it. These guys are hitting double ups on the skate...