Some thoughts on the use/misuse of "it's" vs. "its".
When so many people make the "error", it may be time to blame the language, not the people.
If you can tell right away from context that someone has used the "wrong" one then the value of having the distinctive punctuation would seem to be greatly diminished.
In the modern SMS / IM / twitter communication world, shorter is better, often even at the expense of "proper" usage.
Based on the above, I suspect "it's" is likely to disappear from common use over the longer term arc of the English language.