There's a lot of interest in it, not only from the e-cig side, but also for medical inhalers. Micro dosing pumps might work, but also one could use the bernoulli's principle and the venturi effect (akin to a carbureter), mechanical aerolizers, or even chemical processes to create an e-liquid/air mixture. Part of the problem will be figuring out what sort of e-liquid/air mixture works best for vaporization, which requires medical and other research. Miniaturization and reliability will be engineering issues to overcome. In addition, someone is going to have to figure out a high-speed atomization chamber that can vaporize the mixture at the right temperature, which is an ongoing problem in part because no one seems to have found the perfect heating source yet (i.e., quick, accurate, precise, and practical). The e-liquid too might need to change (nicotine has a high boiling point, which leads to recondensation), so we might be vaping an entirely different liquid one day.
If the industry continues to grow, I'm confident that the research and engineering work will be done to figure all these things out. However, it will also probably mean the end of vaping as a hobby (because everything will be too complicated or precisely controlled to allow for home experimentation), but the vape itself will probably be light years better than where we are today. I think I could live with that.