IMHO, Europeans will be using their own ccTLD instead of .eu, making it even more worthless than any other TLD. It isn't a gTLD nor a ccTLD.. people identify less with their continent than anything else.
How many times have I ever said I was a North American instead of an American? 0.
Europeans... how many of you identify yourself as european rather than your own country of origin?
Alternatively, .com (argued above to be the "US" ccTLD) is a very crowded TLD and I think Americans will be turning to .us faster than europeans will be turning to .eu.
But, then again, what the hell do I know? I'm just wildly speculating... but I feel the .us extension deserves a spot on the "non-other" list.