You could say similar things for just about any transformation of an industry, couldn't you?
But the winners are not going to be those that won't transform their business and infrastructure. The winners are those that can adapt and find a revenue model that works. Markets are tough - you have to continually reinvent yourself to survive. That's one of the signs that markets are efficient.
If Mr. Justus doesn't feel that he can find a way to succeed in a digital age, I'm sure someone else will be happy to do it in his place.