It very likely will happen, although not along the lines described in this scenario / polemic:

As reported in a variety of rambling articles in what some refer to as “London tube rags,” Curry believes that the near-term descendants of the genetic upper class will be tall, slim, healthy, attractive, intelligent and creative. “Underclass” human beings will have devolved into dim-witted, short goblin-like creatures.

Further down the road, upperclass humans will pay a price for reliance on technology. Spoiled by technology that will do everything for them, humans could come to resemble “domesticated animals.” Chins would recede, as a result of chewing on carefully processed foods. Reliance on medicine would result in weakened immune systems, with genetic weaknesses no longer thrown out of the gene pool. The logical outcome, says Curry, would be two sub-species human beings; one group gracile (slim and attractive) and the other more robust and physically strong.

An aside to our friends in the UK: It’s the 21st century. Time to get over this whole “class” obsession, already. When taking the Express train from Heathrow Airport to central London — about a 20 minute ride, IIRC — you actually have the choice of two classes of service. I mean, is it just me? How class conscious do you have to be to shell out an extra five pounds so you can turn your nose up ever so slightly at the thought of your social inferiors riding in the cheap car? For twenty minutes? Sheesh!!!

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Anyhow, as Bill Christensen at Technovelgy rightly points out, the original model of future human evolutionary bifurcation is highly superior from a literary standpoint, if ultimately just as flawed.

Humanity likely will be bifurcating, but I don’t think it will take 100,000 years. And the resulting groups won’t be called Elois and Morlocks. Instead, the two groups will simply be known as “humans” and “MOSHes.”