My guess is that the gut microbiome research will go the way of the human genome project:
I feel the same. I expect that a small percentage of the population will get effective treatments for a gut microbiome based problem, but the main beneficiaries will be companies selling *Wonder Treatments* (ineffective) flogged by health magazines.
I doubt that microbes will prove to the *the answer* to most diseases either. It will probably turn out to be just one more factor among many, and that diseases will be the result of combinations of many factors, with no easy answers for how to predict or avoid or treat diseases.
Instead of trying to fix our complicated evolved bodies, the human race would probably be better off engineering a superior race, whether organic or electronic. Of course, being flawed humans, that project probably wouldn't turn out well...