Theoretically, if tomorrow's format of the week is 56-bit 384kHz, you could take your DSD master file and convert down to that spec. It's essentially the same idea as archiving a 2-track tape for later remastering.
I could do the same with an 8 bit 16kHz PCM file.
No, you couldn't -- you'd have to convert UP to the new spec, both bit-depth and sample rate, from a limited quality master. And the limited quality master would, well, limit the value of converting up to the new spec. For example, regardless of the format to which you up-convert, from an 8-bit / 16 kHz PCM master you'd never have more than ~48 dB of dynamic range, or higher than ~8 kHz frequency response.
That said, given my understanding of real-world analog components maxing out at ~21-bits of dynamic range, and human ears not hearing much above 20 kHz (if at all), I'm not sure what good it would do to be able to down-convert from DSD to something higher than 24-bit / 48 kHz (or 96 kHz, assuming this provides better anti-alias filtering).
However, I imagine having the raw DSD file could provide for audible improvements in the down-converted target bit-depth and sample rate due to advances in the process of converting from DSD to PCM. Likewise, I imagine it's possible to perform higher quality editing in the DSD rather than PCM realm, but it's beyond my very limited knowledge of the formats, software editing algorithms, etc. to even guess at whether or not it might deliver audible improvements.