Has it been confirmed what exactly Skyloft will be? A series of aerial islands, suspended in the atmosphere by an ancient and forgotten magic, perhaps? If it is indeed the City in the Sky, then it will eventually age and drop pieces to the ground (literally giving Hyrule the expression, "The Sky is falling!), but will remain those spectaular celestial ruins we beheld in TP. But I am more interested as to what Skyloft will look like, and what it's inhabitants will be. We already know Link will be human (Hylian; same thing), so there will probably also be other humans. Yet, ultimately the Oocca come to reside in the City...so either they are the Skyloftians of before, "blessed" with a "change" from the goddesses so that they might live forever to watch over the floating metropolis, or they're some sort of mystical pets who outlived their masters. Whatever the truth, they are said to have been dearest to the goddesses, even more so than the Hylians, therefore giving off a "Tower of Babel" resemblence, as the people who constructed it sought to be "closest" to God.
(In the end, a manic moon shall come down forth from the Outer Reaches and consume Skyloft...)