Could hypersonic flight become a reality?

Hypersonic flight is old hat, but to make it commercial will take a very long time, I think. Cost goes up exponentially with supersonic speed and cost is a big driver in the airline industry.

Virgin's suborbital 'commercial' flights are probably far more viable - and expensive...

There is current research in Japan for a 300+ passenger version. Other studies and experiments are also in the works. The problem with the Concorde was more to do with the limit of 100 seats in the aircraft.

France did not operate it very profitably (fare prices were too low), but British Airlines was able to make a profit by raising the fare rates. The Concorde avionics were never updated and made it an obsolete aircraft is some respects after its 30 years of service. It could have been even more profitable than it was.

Sir Richard Branson had put an offer on the table to buy the Concord, but British Airlines countered that the offer was too low and the deal eventually broke down.

Another project under development is a supersonic business jet with a very low sonic boom (about 10% or less than traditional supersonic aircraft) signature.

In other words, it will happen, but it may be another 10 to 20 years before we really see something.

Not until the price of fuel drops enough to make it practical. That was one of the factors keeping the Concorde from being more of a success. It will tke more than a few people with 'Money is no object" pockets before it can break even much less turn a profit.