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I gave up following ebooks in 2005 after watching their development like a hawk and writing about them regularly, for exactly the reasons y'all have mentioned. I got back into them this year because Kobo forced the price of readers down.
The agency pricing model has hurt ebook prices (keeping them too high to be of interest to me for the major books) but I don't seem to be lacking in stuff to read. I've hit the public domain works, indie books, library books and bought a couple of contemporary novels at the $9.99 price point since getting my e-readers. My TBR list is long enough to keep me going for weeks, and I seem to add something every few days that piques my interest and is free or reasonably priced.
There is a rich and wonderful world of reading beyond the big five and I don't mind at all exploring it while the industry adjusts.
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