Hand build? Yes, but I think that, as we are seeing with 3D printers, there will be a growth in hobby pick 'n' place machines. So we will still build things at home.
But this still leaves some parts out of reach to an extent - like BGA devices. While it is possible to place, orient, and align such a part on a PCB - with the proper reflow equipment - what isn't possible is knowing (before applying power) if all of the "pins" have actually been connected via solder on the PCB.
But, SMD isn't nearly as bad as you might think if you haven't ever tried it. The first roll of 0805 parts I bought looked impossibly small, but the very first board I built using them worked fine -- and that was assembled with a soldering iron.
Did you have all that, Woz? From my point of view, it's a GREAT time to be a hobbyist.
But they can be all be soldered if you have the skill or at least a good reflow oven.