The news from Huffington Post made me worry at first, because of its headline, but after reading the news and the Mashable article, I heaved a sigh of relief.
Just to be clear, Google is not removing or terminating Blogger and Picasa. Rather it's going to rename them into Google Blogs and Google Photos, respectively, to be in line with all the other Google products once Google+ will be open to the public.
Methinks that this effort means that Google plans that Blogger and Picasa (or what is soon to be the former Google Blogs and Google Photos) will be integrated into Google+, something similar to the pre-2011 Friendster wherein users can access blogs and photos from their page.
I just don't know if, by the time they get rebranded, blogs using the "blogspot.com" will retain their URLs or will be redirected to another.
Let's see where this will go. Mashable says that the rebranding may happen on or before July 31, when Google+ is officially launched, so we'll have to wait for a bit for any new announcement.