I started programming in 1979 in Basic on the Apple machines.
My fist job was in 1984 working with Ada and CICS (yes Ada not COBOL). I moved on to C -> C++ -> Java -> C#. Ada was on Amdal mainframes, C was on SCO Unix 1.0, C++ was on Windows & OS/2, C# Windows and Linux.
I have had a blast doing all this, every paradigm shift was enjoyable. I think that to stay in this business you have to embrace change, this ends up being the difference between a programmer and a software engineer. Not that the later is smarter or anything, they can just make the shift to new ways of solving the same old problem(s).
When I started that Ada job I was working with people that had been programming COBOL longer than I had been alive. Not all of them made the transition to Ada, but the ones that did later made the transition to C without too much of a hiccup as well. IMHO I think that most people do not enjoy change, but the really talented developers do, there is nothing wrong with not being one of these people.
Note I do think you are right that there will be lots and lots of programmers that are churned as the next paradigm shift happens and it will continue this path.