Uematsu is supposed to become a freelancer, But I hear people have been leaving Square Enix lately.... I blame Enix... They should not even touch a FF game in my opinion.
Gah, there is no proof that Enix is touching the Final Fantasy Series at all, and even if they are Enix makes GREAT games and it is not a bad thing.

Anyways, Uematsu is a great composer, but there are so many great composers out there, Final Fantasy is hardly doomed. Look at games like Phantasy Star Online and Zone of the Enders (most notably "Beyond the Bounds" from ZOE 2). They don't have Uematsu and they still have fantastic scores. So the music will be a little different, it doesn't really matter. I am sure they can find good composers to replace Uematsu.