Actually I have nothing against developers using the engine which they are most comfortable with.
If so many developers switch to UE3, then so be it.
Many developers are doing GREAT things with it (BioShock from Irrational Games, Alice from Spicy Horse, Mortal Kombat 9 from Netherrealm, they all look great).
If Valve ever get's developers to use their Source Engine it'd be okay too. The Source Engine is an amazin piece of technology, always getting updated and although it made it's debut with Half-Life 2 in 2004, the more recent games made with it (Portal 2, Left 4 Dead 2), although all in-house developments at Valve, are still looking damn good.
I'm always amazed over how realistic Left 4 Dead 2 looks compared to many games made with UE3, not in terms of polygon counts or anything, but more the general all-around design.
So i my opinion: I don't care, which engine will be the best 5 years from now, as long as I can play the games I wanna play at an acceptable framerate with acceptable texture resolution plastered on models with an acceptable polygon count in an acceptable environment with acceptable gameplay ideas.
So yeah. I'm a gamer. I game what I wanna game and I don't let no stinking engine rule over how much fun I'm going to have.