Debate: Is Proof of Work the Ultimate Solution?

The inventor of the first steam engine created something new yet, for today’s standards, inefficient and imperfect. The evolution of the steam engine has lead to very efficient machinery that we have today. Using this analogy,

Proof of Work

Some tech experts believe that Proof of Work is a technological dead-end, while others think that you cannot have a blockchain without this consensus algorithm. What is your perspective? Is Proof of Work dead?