OT-ish: txt - Could it replace Standard Written English?

With the new advent of txt, I came to wonder - could it replace standard
written English?   There is no doubt that its use is growing, and it seems
that it seems to be used in more colloquial writing by some young people.  I
wonder, could it really go that far?

And now, in txt

with T nu advnt ov txt, I came 2 wnder, cud it rplase std riten nglish?  Thr
is no dout tht its use is grwing, 'n it seems 2be used in more coloquial
ritin by sm young peeps. I wnder, cud it really go tht far?

A few observations:

1. 'txt' is an abjad.  It only uses vowels when they seem neccesary.  'e' is
especially often dropped, as in the name.

2. 'txt' also has some syllabary-like features, for instance '2' and '@' [tu]
and [@t]/[@?] respectively.

3. 'txt' is a representation of the spoken language, rather than the written
one.  It also uses a lot of abbreviations.

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