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It's not really all that shocking for large corporate Linux distributors to drop support for an architecture that for all practical purposes had very little chance of generating revenue. I am certain that if a large PPC contract came in they would start supporting it again, but either way, it is open source, and that having been said, it is quite likely that a person (or group of people) will pick up the slack for the nitch PPC desktop market.
This is the beauty of Linux, no one company, government, or person controls it. Anybody can jump in and pick up the slack if the need is there.