Ignoring potential further advances in high refraction glass and aspherical compact lens element production technology, I don't know what could be done about shrinking high quality longer telephoto lenses other than i.e. going from a 400 or 500mm f4.5 lens to say a 500mm f8 or even f11 lens. At 16 to 24 megapixel APS-C sensors that's still below where diffraction starts hurting - or?
One thing that appears to be possible with advances in sensor technology is that todays IQ at say 400 ISO might be achieved with a sensor in two years at 800 ISO - give it another couple of years, then maybe even 1600 ISO. If advances in CF (or whatever hybrid) focussing keep up then such a lens could possibly be autocussed reliably, accurately and well (and maybe even quite well as maybe the masses to be moved around by whatever focussing motor are smaller, allowing faster moves, less strain, maybe more repeatability...) With those "dark" max apertures, then, would not such a lens offer at that time the same performance than today's f4.5 lens? Well, yes, of course except for DOF.
I never had such a long lens, so I don't really know how shallow one needs DOF to be at such a length. Personally, with lenses at the long end of what I use, I am more challenged with too little DOF.
Anyway, in the above scenario and if such a slow but good tele lens was price wise also much more affordable, lighter (those matter to me way more than size - for a tele lens) - as it should be - I might very well be interested. And that should be achievable with sensor advances not even a need for optical advances - or?
Disclaimer: I am probably not really spending enough time taking pictures to consider photography a legitimate hobby, which my explain some wilingness for compromises (just not really in IQ) that others may not be willing to accept. It certainly explains why heavy, high end, high $ long glass just is absolutely not for me. Does not mean so I would not want to have a long lens that would allow me to take high IQ images - just one that I care to afford and care to lug around...