Most of us don't think about "omg this strat is really good, lets dl the replay and study it"
We dl replays to watch and admire the player for their skill. I know vods are used for that same reason, but sometimes i find it much comfortable to see what's going on with my own mouse.
I'm not saying vods are bad, don't get me wrong i love watching them, but i love replays too.
It also helps to see how well u did, by watching my own old replays.
It lets me see where i've made a mistake, or the build they went and how i can counter or have a better chance with it next time.
I dont think the replay system will be taken out of sc2.
But people shouldn't think that the replay system is the reason for e-sports slowing down.
As for the emotional side, i don't think that the fans aren't emotional, i don't know about you, but i would LOVE to be in a stadium watching starcraft, and we are emotional, we love boxer's crazy plays, and different or new plays.
Starcraft lasting 10 years and nearly 11, is sometime i think we probaby wouldn't have believed 8 years ago. But it has and i still love it, even when sc2 comes out, i'll probaby still go back and play around with the first one.