NBC is cutting their own throat - again, like they attempted to do replacing him with the quirky, acquired-taste ginger. They are trying to go younger demographics to compete with Jimmy Kimmel but Leno has such a wide and faithful following that after the non-compete ends (which I assume will be written into his golden parachute), he'll take his audience to Fox and again throttle Kimmel, Fallon and Letterman. Whether Jay is personally your cup of tea or not doesn't matter - he plays very well in Peoria. As an aside, knowing someone who actually works with Leno and also someone else who occasionally runs into and harleys with him on Mulholland some weekends including breaking bread at the Rock Shop, I've heard nothing but glowing reports about what a good, regular, approachable guy he is.
"Always remember that you are absolutely unique. Just like everyone else."