We will possibly loose the battle but not for that reasons
The point will be the propietary ones:
1. Plugins. As long as a company supports Netscape pluggins all will be fine (Netscape support is not as perfect as one may desire nowadays)
2. ActiveX: That's a black point. MS doesn't seem to want Netscape to support ActiveX. ( I'm not sure but I think WINE may help here )
3. The most important one: .net!! It's not trivial to write a .net compatible browser. If .net is used widespread ( And I think it will be ) this will be the most important gap for linux to be compatible in the web.
The possible solutions to this last point aren't trivial:
1. Make a compatible .net browser ( VERY! hard )
2. Make a new standart with the same functionality as .net that can be used everywere. With attractive tools for developing with. That's very hard too!
(Don't take me too seriously, I'm running Win98 right now :)