Things in club land are unstable in many ways, but I'll still try to respond to the question "What now?"
The fickle, trend-following mainstream audience is starting to lose interest in dance music and electronica and promoters across genre lines are seeing smaller crowds, with some large events facing huge losses.
In the new year, expect fewer large parties and big-ticket DJs as declining attendance, the high cost of meeting city event guidelines and steep fees for well-known spinners scare promoters away from large investments.
On the other hand, niche parties will continue to do well and will become more purist in order to keep their core audience loyal.
Expect more local headliners as promoters will be working harder to establish their residents. Although house music has been huge for the past few years in Toronto, the inevitable backlash has to come soon -- expect a renewed interest in rhythms other than four-on-the-floor.
The influx of new clubs in the Richmond/Adelaide area will cause some old favourites to close. There are just not enough people to fill them all. This will shake things up, and new promoters and DJs may get their chance while established clubs will have to work harder to compete.
Underground techno and house are talking more than they have in a while. Cross pollination of these scenes can only be good for the music and will expand the audience for both.
Live bands will continue their infiltration of dance clubs, but as the number of groups working in this area expands, audiences will become pickier about which ones they'll support.
The warehouse revival will continue until club owners find a way to profit from all-night dancing. This may not happen, since much of the appeal of these events lies in their mystery and exclusivity.
Expect more interaction between the conscious R&B and soulful house scenes -- they're already sharing musicians, so it's not much of a leap.