The majority of the scientific computing community views computing this way. Reactive programs are event-driven such as operating systems or control programs for a robot. A primary focus of reactive programs is to deal with non-determinism. Tony Hoare's CSP model aims to capture the essence of reactive programs. Designers of real time systems and embedded systems also write reactive programs.
Fault tolerance is a critical issue in reactive programs.
In the next five years, I see healthy growth in both transformational and reactive programming. Because of its shift of responsibility of scheduling, partitioning and synchronization away from the end user to the compiler, I predict that data parallelism will be the main stay of parallel transformational programming. A data parallel APL has promise. The future is less clear for reactive programs. However, they will not replace the need for high end supercomputers.