SEO is still new thing in market many people does not know about it but it is true this is key technique to increase visitors and traffic on website
Brother don't worry about it, the future of seos is bright, you have feared because of updates of google, but Bro, it is world of www and you have to remain update in this field.
I think SEO is changed not dead actually. Google always keeps changing its algorithms for search. And all changes are only to make search results better. After these panda and penguin updates directories, bookmarking and blog commenting becomes less effective. Now you need to build links which seems genuine. For this you have to diversify your keywords and should focus on content.
I think the future of SEO is good because websites need to be optimized on search engines from time to time. Without SEO no website can get high PR as well as Alexa rank.