Re: Obsolete for whom?
Think authentication rather than privacy
dont think this is such a big issue for website certificates either as under current CA arrangements its really very easy to get your own root CA if you have some cash to splash in which case you can issue new certs for any website you want to impersonate.
Plus for serious players (APT types) they probably can compromise the client devices of people they are interested in and then HTTPS is utterly irrelevant.
What this is more significant for is if you are using PKI based signing by a fixed key for any kind of validation - that is a big deal. Thats software components (think MS root keys), financial transactions, etc... there is a lot of "infrastructure" that this would completely wreck.