I agree with the professor's sentiment. Technology is and will continue to change education. Non-research professors will decline in demand.
But he sites a common misinterpretation of Moore's Law as his evidence. Moore's Law doesn't say computing power (or speed) will double every 1 1/2 years, but the number transistors in microprocessors will double. But because of heat concerns we've had to move to multi-core processors, and the speed has hit a plateau. People might think "I've got two cores, so I'm twice as fast", which is completely incorrect.
Computing power is increasing, but there is no evidence that in 20 years it will increase 2^20.
edit: actually, he's wrong on the 2^20 too. It's every 1 1/2 years, so it's more like 2^13= 8192 (let's say 10,000) times faster.