While such a short re-entry profile may be possible, it's unlikey that it will ever be used. Even if we assume that fuel/engines will be more powerfull (and need a smaller fuel mass to achieve a given dV), the fact is that high efficiency will still be a very desirable thing.
Even in the future, fuel will not be free, and the kind of re-entry you are talking about would use a LOT of fuel. That fuel would have to have been carried during the flight from wherever-you-came-from, thus yet more fuel would have been needed to get from there to here. That could also mean a larger vessel (since the fuel tanks would need to be bigger), which means yet more mass, and therefore even more fuel needed.
A powered re-entry just isn't economically viable, and likely never will be, except in cases of extreme emergency.
Also, keep in mind that this type of re-entry doesn't necessarily save you any time. There are still going to be limits as to how fast you can slow down - especially for a manned flight. A powered re-entry may seem quicker - but only because you are de-orbiting later. The actual time when you land will end up being very close to the same either way.