With all the enthusiasm of what has been said by others, perhaps your colleagues need to be thinking a little further afield. Computers are the most disruptive technology we have ever developed, there is no aspect of society, politics, economics, technology that has been left unscathed by them. Things change so readily, and so frequently, we can no longer percieve much beyond the next 5 years. People claim that we do, but we really don't.
I suspect you are asking the wrong qestion here, it is the underlying technologies that need be questioned.
Essentially, does the system we want to use offer us long term flexibility? Some technologies are evolving but are enduring, like HTML, preprocessing, sql databases, as used by an LMS like Moodle. Other technologies, Ruby and Java, have promised a lot, but have yet to realize that promise, but maybe they will one day. However, they use SQL databases. Increasingly, proprietal systems also use SQL databases, so whatever system you pick, it has to be an SQL database, and that is what I see as the key.
The database holds all the information you need to transition between different products. For the moment PHP and an SQL database are providing the most stable platforms and most useful products, but no-one can guarantee that this will continue. If something better comes along, Moodle.org will probably respond to that by producing a version that uses the new platform, but my money will be on there being an SQL database at the core of the product.
So does Moodle use web based interface, yes, does it use an SQL database, yes. If Moodle is no longer a useful tool, can it be converted to another platform relatively easily, I suggest yes because of those reasons. The onus is on the user to have access to a skill base that can make the transition, but a university has that already.
So for me, it does not matter too much about the longer term presences of a product any more, it is my ability to transition to another product, hopefully better, that is the real issue today. Moodle, I think, can fulfil this criteria botter than most other products.
There is also another important aspect, I can access both the database and the code as it is open source. Far too many other systems are not, so transitioning to another product is difficult if not impossible, that is the trap that needs be avoided.
Food for thought.