Mubarak is a dictator, and like all dictators he see himself as completely necessary for the running of the country; they cannot grasp that the country can exist into the future without them. Of course this runs completely against the wishes of the people.
While I agree that he has no support with the military, unless the top brass of the armed forces turns revolutionary I doubt they will allow a bloody revolutions to occur since this is really the only way the current conflict might be resolved unless one side backs down. My real concern is the takeover of the government by Muslim extremists, which would eventually leave the people of Egypt with even less freedom.
I have nothing against moderate Muslim culture, however I am concerned how the radical right might use the resulting power vacuum.
Just my opinion, doesn't really mean anything.