My thoughts (as an AP holder for many years)... and I know I'll get flamed for this, so fire up those flame throwers!!!
My thought is that they will not quit selling AP's -- the locals just wouldn't come as much and that would hurt the bottom line way more than discounts/no discounts, some people staying off site in protest, etc. Florida is a big state and to cut that many people off would be suicide. Let alone people from other states or countries who come many times per year or for very long trips, DVC'ers, etc. The bottom line for most people who purchase AP's is (or should be) the bargain they get on admission over any other admission option. Room discounts are (or should be) gravy. And to take away that bargain on admission would mean that tons of people would just not come.
BUT... I do think Disney is going to seriously rethink how/if/when they offer AP room discounts. There are a lot of loopholes in the policies (i.e., using a child's AP to get the discount when a child can't even book a room reservation, not even asking for them most of the time at check in, etc.) that they need to close to stop people taking advantage of the situation and get it back to where AP discounts are there to reward those who seriously want and use an AP for admission -- not just the room discount. I've always thought of AP room discounts as a "thank you for coming to the parks so often and choosing to spend your money here" type of thing. I don't think AP's were ever intended to be used solely as a room discount vehicle, which is what they have become for many people. I think Disney will try to get it back to where it is a "reward" for those who come to the parks a lot, and try to discourage those who buy it for a three day trip just to get the discount and then never use it again.
I think we may still see discounts, but they will switch to being very last minute and only for those resorts and time frames where they really need to fill up some rooms. And the thing of it is, that may not be very often because the "off season" gets more crowded every year as year round schools take hold and people come to see the benefits of off season touring. So the number and availability of discounts may decrease, even if some are offered. But the bottom line to me is that the discount should not be the only reason people purchase AP's. If it is, you're possibly going to be disappointed and angry. But if you buy it for admission, anything else is extra and you can be thrilled you got that discount on rooms or merchandise or food or whatever. I've traveled to Disney too many times to count, sometimes I've gotten the room discount, sometimes I haven't. But I've never let it bother me because I know Disney is where I want to spend my vacation and I'm thankful that I am able to save money on admission, even if I have to pay rack for my hotel.
Getting off my soapbox now. Flame away -- I wearing a flame retardant suit!