As I write this, the other "writing on the wall" is the fall of Fortress Delve and the IT Alliance. Let me be clear on the first point: I am not a part of any of the alliances involved in this, the end of the "Forever War" in EVE. I have never been in IT. I have never been in an IT renter or pet, and I have never been a member of any of the alliances that make up the so-called "Northern Coalition." However, I have been aligned with forces against IT pets, when a resident of Syndicate and Outer Ring, and I have been aligned against the NC during "Max 2" - the northern invasion of Winter/Spring 2010.
From Vale of the Silent in the Northeast,across the entire northern hemisphere to Cloud Ring, all of those alliances can be treated as one group. This is the current "Northern Coalition" founded to stand against the threat of the now two-years dead Band of Brothers (BOB), and any iteration of alliance formed from the corporations that comprised BOB, including the now-mortally wounded IT Alliance. If you assume that IT Alliance, and it's pet/renters Black Star Alliance, HUN Reloaded and BLADE are merely dead men walking in Fountain and Delve, you see that over half of Nullsec will soon be held by the (now perhaps incorrectly named) Northern Coalition. I will not make broad future assumptions about changes to the NC - instead I assume that inertia will hold the NC alliances together with blue status for the foreseeable future. Examining the map with that in mind, it becomes quite clear that the Northern Coalition of alliances (which contains upwards of 50 thousand pilots) has created a vast safe haven for the individual members to earn ISK. This, in my humble opinion, is the straw that may break the proverbial camel's back in EVE.
Nullsec has long been held up as "high-risk high-reward" and for some time, this was true in many places, but in this gentrified western hemisphere, that will no longer be true. As far as the Carrier can jump, vast ISK fields stretch before the average NC pilot, with little true threat within striking distance.
The western hemisphere of EVE has the potential to completely destroy any hope of balance in game, far beyond the damage already done by the T20, PI reprocessing, or the moon-goo fiascos of the past. Where Technetium lined the pockets of corporation and alliance leaders within the NC (and for some, trickled down to the average pilot), the vast resources of risk-free nullsec have the potential to change the wallet balance of the average NC pilot from the hundreds of millions to hundreds of billions in a short time. Safe from Black Ops hotdrops (4.5 LY max distance) and with the vast resources of the supercapital rich NC a deterrent to any smaller alliance with delusions of invasion, pilots will be free to farm Sanctums, Havens, and of course to chain multi-million ISK Battleship rats in the true nullsec systems far from any real threat. This means that rather than earning a few hundred million ISK in income per month, these pilots can make billions. By turning the entire western hemisphere of EVE into a giant ISK faucet, the average NC pilot will be able to shrug off losing carriers or faction battleships the way empire carebears shug off Drake losses in missions.
Add to that the lack of available sovereign space for a new entity to grow large enough or rich enough to even consider threatening the NC bloc, then the solidification of the NC as the sole superpower in EVE is practically a foregone conclusion. The "problem" if it is to be considered one, is that the risk-to-isk ratio in nullsec is negated in this brave new world. Even today, with the ISK or even the stockpiles of ships that the NC has at it's disposal, no entity could sustain an assault upon this group long enough to break it. The average NC alliance can replace supercapitals without hesitation, while other alliances hesitate to replace any ships that do not exactly match fitting standards.
Is there a solution? Maybe, but not one that would actually change the game for years. CCP would have to change the costs of sovereignty modules and upgrades, they would have to dynamically change the value/quality of rats in systems based on the sovereignty levels or upgrades, re-adjust the T2 moon mineral balance for ship construction (again), all of which are artificial ways of constricting this vast meta-alliance. Even with changes to those items, it would literally take years (if not longer) to cause any significant dent in the wallets of these alliances. In addition, it's likely that with CCP's track record, any changes to costs would be even more detrimental to small alliances hoping to get a start in nullsec, making that activity even more of a non-starter.
The reality is, it's time to get a character into an NC alliance, and start farming. Although it's unlikely that your wallet will reach the pinnacles of ISK that the existing farmers have (after all, they are farming ISK as you read this from your empire mission hub), the imbalance at least moves up on a sliding scale, enabling you to maintain your position in this new, vastly unbalanced world. Those who aren't able to keep their position on the sliding scale (I'm looking at you, L4 mission runners) won't be affected until they join an alliance with delusions of grandeur and nullsec sovereignty.