I really enjoyed an article and mainly agreed with the premise but articles bemoaning the demise of traditional publishing are being a tad over-dramatic (forgivable obviously for a writer). Out of the ruins..... I suspect that it is right that the ownership and the conglomeration of publishing houses we know is going to continue. This denigration, I suspect will continue. Yet we humans are lazy and many people will still wish to read but are unwilling to trawl through a hundred self-published works to find the one well written, well told book. The wealthy will demand (to save valuable time) the books to be screened, reviewed, to read the right things.
Yes publishing as we know it has to change but is it defunct? I suggest that it needs to reform, find a new model and then it will continue. A phoenix.