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I read more novels than I did 20 years ago, and I watch less TV than I did 10 years ago, for all I'm following more shows (but that's a side-effect of Tivo -- it allows me to watch the shows I will watch when I actually want to watch TV, rather than watching those particular shows when they come on, and watching whatever drivel happens to be on when I get the TV urge, usually late at night when there's nothing but drivel on)
I don't know that novels are more intellectualized than video formats, but I do know they're a lot cheaper to produce. Think about it, something like the Star Trek franchise shows (to pick one that everyone is familiar with) has a huge production budget -- on top of the writing that has to be done before the show gets anywhere near filming. But if you were to present the same stories in a totally written format, all you'd have beyond the cost of writing would be the cost of printing and distribution/marketing/etc. And of course e-books cut a lot of that out of the equation.
I think novels still do a good job of telling stories that don't parse well to video. Some of those stories continuously cross the line, as the special effects capabilities improve, but then there's always someone else writing something that's even farther out on the frontier of 'hard to film.' Then there's the fact that video is never nearly as good as the written word for capturing internal action, but that largely goes back to the human condition aspect.
Just my thoughts (and it's early in the morning!), salt to taste.
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