The link mentions that this is only a possibility, and far from a certainty.

Getting rid of the Cayenne is like BMW killing off the 3-series: it has become Porsche's best-selling vehicle! The Cayenne and the Boxster are their 'bread and butter'. The 911 line is only the icing. In other words: not gonna happen...

And as for looks, I love the X5 more, but I am not a Pepper-hater. It's nice to have competition in the performance-SUV sector.