Before going further, we would like to remind you that the following pieces of information are only rumors and therefore impossible to verify even though we consider our sources to be reliable. Then why talk about it? Because based on what we know, the final decision hasn't been made yet, so we believe that there is still a little chance of seeing Apple's course of action changing.
According to our sources, the discontinuation of the Xserve by Apple would be only the beginning of an overhaul, which would lead to the disappearance of some professional-orented activities.
Xsan and Final Cut server could be among the programs being discontinued, as Apple's management would be wondering whether to continue to develop and support them in the future.
To go even further, but we are not there yet, it would be Mac OS X Server that could be discontinued. There will be a server version of Mac OS X Lion, but it might be the last Mac OS X server update.