Not really the end of the world
Considering that Java is now a dull, enterprise back-end kind of language, coded in by boring enterprise guys like myself, who cares that development of the language moves at the speed of tectonic plates? I mean, the application I'm co-developing just moved from Java 5 up to Java 6, and that only as a required platform; half the code has not been updated since Java 1.3. Enterprises sure ain't waiting for rapid development cycles; they want solid, bug-free (asif) software.
I know Java isn't sexy, it isn't what the script kiddies like, and it's not at the bleeding edge of computing either, but by-and-large it gets the job done, and it gets an awful lot of jobs done these days.