Yes, I see it happening... I saw a 32gb (class 4.. though) micro sdhc card for $14 after a $20 rebate at newegg! Unheard-of price for that capacity!
Still, there are more brands entering the market.. can't say whether there are acutal makers entering the market but MORE volume of chips will hit the market under various "BRANDS" printed on the labels. Panasonic is the latest that comes to mind! So generic brnads like WIntec and Patriot brnads will have to cut their prices to remain relevant. That is good for the consumer.. as this could (in theory) also push down tablet prices across the board about if this translates into internal flash chips seeing competition as well!